Quote:
Originally Posted by HarryT
Both credit and debit cards in the UK and, I believe, in most Western European countries, have been "chip and pin" for many years; I don't know how many years it is since I last signed for a card transaction - quite a few, certainly!
Any idea why it's not been implemented in the US thus far? I don't think it's the doing of MasterCard or Visa, since both of those are chip and pin elsewhere.
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It's quite exciting to be ahead of of the US in consumer technology - perhaps the reason is we had a bigger % of frauds perpetrated ! [Unlikely, surely...]
I don't think it's the cost, after all all the major European concerns (Tesco, etc.... for example) embraced the move fairly happily.... more secure for them and us, speed, convenience, something to spend the increased profits on ....
Actually, I do remember being faced with a kind of Chip and Pin scenario in Portugal, well before the UK had them, which was interesting/embarrassing ! The demand for "Banqo nombre " meant nothing to me, at the head of a very long, impatient supermarket queue....
My thought about cards being ...diverted... was wondering there was any value in them as blanks etc..
But the the criminal fraternity probably have their own factories churning them out !