EMV chip in the news.

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chas0039
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EMV chip in the news.

Postby chas0039 » Mon Jan 20, 2014 8:56 am

I just caught an NPR news story going into the details on the mechanism and progress of the EMV chip, including the delays up to now getting it in the US. They believe that the mess at Target might get things moving more rapidly this year than before.

Glad to see it.


lucasoil4u
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Postby lucasoil4u » Mon Jan 20, 2014 9:18 am

i wish they would bring it here but I doubt it anytime soon. Want to know why ? Money hungry people. If they brought that here people will cancel there credit monitoring because they will feel safer and the credit card company's will loose money. The cost to switch out all the terminals would be threw the roof. We don't pay for our machine at work it is given to us for free as long as we are with that company.

chas0039
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Postby chas0039 » Mon Jan 20, 2014 2:35 pm

Whoa! Interesting perspective. However money is what is bringing it here. After Oct. 2015, merchants who haven't changed over will be liable for fraud. That will shift the cost equation.

websteth
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Postby websteth » Mon Jan 20, 2014 5:52 pm

I, like several others on here, will be the first to say that I will love to have a true Chip and PIN card instead of a Chip and Signature. It is way faster to use a PIN that it takes to sign a slip and as others have said, it's far more secure. I just listed to the Marketplace report. It will be interesting to see how long it takes and who is the first to activate the chip terminals. I had my card shot down the other day and then I tried it again and put the card in the slot and it worked. The system is smart enough to know that it had a chip in it. This was at a local merchant so I know it at least works here in the USA.
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