|
|
Post by anniefb on May 13, 2016 21:34:45 GMT
There is no longer an option to sign in Australia. Pin number for all cards, but most places you can just tap your card to pay for anything under $100. But I'm pretty sure I can change my pin number via internet banking for all my cards. Yeah, compulsory PIN numbers in New Zealand too. And what I don't understand about the Walmart/VISA lawsuit is that in NZ at least it was VISA which insisted on rolling out compulsory PINs! |
|
|
|
Post by anniefb on May 13, 2016 21:37:48 GMT
The US carries 50% of the world banking fraud....... I can't say I'm surprised! I read somewhere it was more like 75% - and I'm not surprised either. It seems retailers and banks have been the most resistant to rolling out chip cards in the US - the banks because of the cost of putting chips in every customers cards (apparently it's cheaper to carry the cost of all the fraud??) and the retailers because of the cost of new terminals and other equipment. |
|
|
|
Post by anniefb on May 13, 2016 21:41:03 GMT
Because it used to be that you could swipe your card at any time and by the time the cashier was done ringing you up you had already paid. Now you have to wait until the end of the transaction and you have to leave your card in the machine for a long time. MUCH longer than it takes a person to swipe a card.Then the store needs new machine IMO. It takes all of 30 seconds for our transactions to process. Yeah, and for certain low value transactions you can just 'wave' your card i.e. touch it to the terminal without entering your PIN. And I'm wondering why someone would want to pay before the transaction is complete - surely you want to check the total first? |
|
|
|
Post by anniefb on May 13, 2016 21:50:13 GMT
Seems like chip and pin are more secure than chip and signature. Nobody verifies the signature so anyone can just sign your name. I realize pins can be compromised too but seems not as easily as forging a signature. Chip & PIN technology is much more secure - cards are harder to counterfeit and the chip uses encryption so the transaction needs both the info stored on the chip and your PIN for it to be authorised. Credit/debit card fraud continues to fall in Europe and other regions where the technology has been introduced but rises every year in the US. |
|
