Anyone else get their new card with a chip in the front? How am I safe now....I didn't read all that shit.
all the banks are doing that now, but the card readers capable of using the new chips are not really working yet. you rarely see any of them, and the few i've seen cannot read my cards so far.
...i have a slate card with the chip. i dont feel any different the bank pays for the fraud anyway so maybe they feel better with the chip.
...i havent even used that card at the point of sale yet. its been all internet or pay over the phone use but youre right the merchants dont have the chip readers yet and card issuers were slow to roll it out because of the cost.
Just got mine with the chip too and I didn't notice the chip at first. I don't use it too much except for some bills that get charged to it and online purchases.
That reminds me, I should cancel my Amex. Haven't used that card in several months after Costco turfed them.
You better get an RFID blocking sleeve. Without one your info can be taken from the card while it's in your wallet. I'm currently on another business trip to Italy and those fuckers at AMEX raised the foreign transaction fee again!
i think that stuff about the cost they claim is bs: the US is the only country that hasn't had it for the past 10 years. there is probably some monetary benefit for someone or some group keeping the older system in place that is far more than the costs of converting the infrastructure.
This. Some stores require you to insert the card, chip first into the card terminal at the bottom. I tried to use my chip-card it at the Wal Mart Neighborhood Grocery (which I rarely go to) and it gave me all sorts of issues. The cashier asked me if it was a EBT welfare card !!!!!! AMEX suspended my card based on several cancelled transactions until I called them up!
October marks the start to a liability shift in the industry where a merchant may be responsible for card present fraudulent transactions. Therefore FIs are issuing the EMV 'chip' card to hopefully take advantage of the change...but right now it still has a mag strip so you can use it anywhere. Unfortunately, this only applies to card present txns right now. And excludes gas station POS purchases where alot of imposter card fraud is initiated. Gas station POS starts in 2017, so most of my clients are going to slowly roll this out over the next 2 years. I would recommend you continue to sport the tin foil head gear, or THEY may take you away.
The chip sucks. Some places uses them where you have to insert them into the machine and most don't. You never know when you need to and you can swipe the card several times before you realize you have to insert it. And it takes twice as long to get it to verify than swiping. And you still have to sign for it. So there is no missed step. I am not even really sure what extra protection it provides. Someone steals your card, they still swipe your chip.
Yeah, so far my cards that have chips have been a pain in the ass. The readers seems to be harder to use.
I have an internet retail company and I have always been responsible for fraudulent transactions. Anyone can place an order online and get it shipped to them and as long as the UPS/FedEx driver leaves it and doesn't get a signature, they can dispute it and win even if you ship to a valid address. I have had email threads where I have had a customer acknowledge receipt of the shipment and still the credit card company found in their favor and refunded their money for stolen merchandise. The retailers get fucked in the credit card world. Online retailers (and soon brick and mortar retailers) bear the burden of fraudulent transactions and still get charged fees on every transaction. I actually direct customers to use PayPal at check out. Even though their fees are higher, I get less fraudulent charges because of their security and I almost always win any dispute on ones that sneak through the cracks.
Welcome to Canada 4 years ago. You can't buy anything here without inserting your card and entering your pin. On smaller purchases of $50 or less you can tap the card on the machine. No issues here with the machines so probably just teething problems at the start.
