Posted on 04/07/2015 7:47:58 AM PDT by rktman
Pay Attention folks:
Identity Theft and Fraud are equivalent to Pregnancy in this regard.
ABSTINENCE works every time it is tried, if you do not make ANY Electronic Transactions your Identity will not be Stolen. You cannot be easily tracked either. I use CASH FOR EVERYTHING and make NO ELECTRONIC TRANSACTIONS OF ANY KIND. Am I worried??? NOPE.
I have been in business for 44 years and I DO NOT ACCEPT ANY CREDIT CARDS.
Do these “smart cards” use RFID?
It's actually the card that specifies what kind of customer verification is required. And, it can specify multiple ones, in priority order. I also believe a bank can program a card to not require any verification for charges below a specified threshold.
There are some US-issued cards that have a PIN. But, most of them have programmed their cards to ask for a signature first. The PIN is only used for unattended terminals.
There are a handful of banks that issue cards that specify the PIN as the first priority for cardholder verification. But, they are intended for people that travel to Europe.
The problem with requiring a PIN first in the US: a lot of restaurants will still be using the waiter's kiosk to pay the bill. If a PIN is required, the customer will have to go to the payment terminal.
In Europe, South America, etc. they use a wireless terminal that is brought to the customer's table -- to either enter a PIN or print a receipt for signature. I think we will eventually migrate to these in the US, but not right away.
It depends on the card issuer, and the card. An EMV chip is not necessarily a contactless card.
To determine whether a card is contactless, see my post #16.
Just who is behind this crap, the government?
The new cards will all die in an EMP attack
The banks. The US is finally catching up to the rest of the western (and third) world: they have been using this technology for about 20 years.
The chips are much more difficult to clone than a magnetic stripe. There are other security features, but that's the main benefit.
Sounds good to me. As long as it doesn’t require a payment to the government.
I use PAI in my gun shop not because it kicks any money back to any group, but because it is less expensive and they are gun friendly.
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Never heard of PAI. Thanks for the info.
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