Random musings

[Arthur Dent]

Can't the person that steals my card just as easily insert the chip vs swiping it? Is there an epidemic of counterfeit strips or what?

Yes, actually. Copying magnetic strips is cheap and easy.

[haltz]

Fine. I'll try and remember not to swipe on my 1,500th try next time I buy something.

[cardsfansince82]

Doesn't the chip always require you to know the PIN? You can swipe and run it as credit without knowing it.

[Arthur Dent]

As I understand it, in Europe the system is called chip and PIN, so you always need to enter a number in addition to having the physical card. In the US, they've rolled it out with just the chip and no PIN requirement, so it makes counterfeiting more difficult but does nothing to prevent physical card theft.

[cardsfansince82]

As I understand it, in Europe the system is called chip and PIN, so you always need to enter a number in addition to having the physical card. In the US, they've rolled it out with just the chip and no PIN requirement, so it makes counterfeiting more difficult but does nothing to prevent physical card theft.

It must be up to the individual retailer here. It seems like a lot of places don't require it for small transactions but most do on large ones. I believe I read the new system shifts the responsibility for fraudulent charges entirely to the retailer, so I suppose they have to decide whether the time and inconvenience of processing PIN transactions is worth the extra security.

[redbirdjazzz]

As I understand it, in Europe the system is called chip and PIN, so you always need to enter a number in addition to having the physical card. In the US, they've rolled it out with just the chip and no PIN requirement, so it makes counterfeiting more difficult but does nothing to prevent physical card theft.

It must be up to the individual retailer here. It seems like a lot of places don't require it for small transactions but most do on large ones. I believe I read the new system shifts the responsibility for fraudulent charges entirely to the retailer, so I suppose they have to decide whether the time and inconvenience of processing PIN transactions is worth the extra security.

The standard transaction limit without a PIN for Visa is $100. The fraud liability is actually still with the card company, provided the customer used a chip card, and the store/restaurant/etc. used the chip reader rather than the magnetic stripe reader. If the store can't read the chip cards, it's on them. If the card issuer doesn't provide chip cards, then it's on them.

[themiddle54]

I don't have a PIN for any of my credit cards as far as I know. Am I at risk of having a transaction denied for lack of that in the near future?

[tlombard]

Hmm. I should probably check on the PIN situation with the corporate Amex I got a couple of months ago. So far I've only used it to book airfare to Boston for next week so I'll be physically using it for the first time Monday morning. Would really be a pain to deal with everything if I don't realize I need a PIN or have things set up right and have to use my personal money. Much easier to just submit the expense report and let the company pay Amex directly the next Friday than have to file an expense report and wait until the next paycheck to get reimbursed.

[Freed Roger]

as a matter of habit, I do a pat down for my cell phone, even when I'm on it. I can't tell you how many times I've triggered my internal alarm "Oh -where is my cell phone?!" when it is being held to my ear.

I live in a fog at times, become dumber with these devices.

[Schlich]

as a matter of habit, I do a pat down for my cell phone, even when I'm on it. I can't tell you how many times I've triggered my internal alarm "Oh -where is my cell phone?!" when it is being held to my ear.

I live in a fog at times, become dumber with these devices.

Sometimes i will check one pocket and my heart will drop when it's not there before i even get to the other pocket. I might have a problem.