> ... they don't seem to have quite as much of a fraud problem as we seem to
> have.
That's the point of (EMV) "chip" cards. They are inherently more secure.
> ... they don't use 'credit cards' as we know them in Asia. Rather, it is more
> of a 'smart card' strategy.
The US is at least 12 years behind Europe, Australia/NZ and parts of Asia in
deploying chip cards.
> Date: Thu, 7 Jan 2010 12:00:20 -0600
> From: hmerr...@jackhenry.com
> Subject: Re: Korean bank Moves back to Mainframes (...no, not back)
> To: IBM-MAIN@bama.ua.edu
>
> Concur. It would appear that the consumer electronic financial
> infrastructures
> are quite different outside of the US. Indeed, ours seems pretty primitive and
> a lot less consumer friendly. More, they don't seem to have quite as much of
> a fraud problem as we seem to have.
>
> I think I read somewhere that they don't use 'credit cards' as we know them
> in Asia. Rather, it is more of a 'smart card' strategy.
>
> Wonder how this works without fees?
>
>
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