Chip-and-PIN cards, coming soon (hopefully) to a U.S. bank near you. You’ll need them.

[4bucksagallon]

http://www.washingtonpost.com/lifestyle/travel/chip-and-pin-cards-coming-soon-hopefully-to-a-us-bank-near-you-youll-need-them/2014/06/19/1c3a72e6-f651-11e3-a606-946fd632f9f1_story.html
Something I did not know is that by the year 2017, I believe it is, the cards both debit and credit will no longer work in most countries by swiping at a store or at ATM's. If you plan on being in a foreign country it will be something you should be aware of. Make sure you have an EMV card. America, like with the metric system, is far behind the rest of the world.


"The problem is mostly chip-and-PIN technology. They use it, we don’t. Chip-and-PIN, for the uninitiated, is the common name for the EMV smart card payment system used by credit, debit and ATM cards in Europe and most of the rest of the world. The systems authenticate your identity by means of a computer chip embedded in the card and a personal identification number, or PIN.

Most American credit cards use an older credit card technology that relies on a magnetic strip to verify the customer, also referred to as swipe-and-sign."

http://en.wikipedia.org/wiki/EMV

[mac56]

1. "It’s cheaper to write off the cost of the fraud..."

"resulting from the less secure credit card technology than to invest in the more secure chip-and-PIN systems."

Chip-and-PIN is used in Canada. There's always a headache at a market, etc.

[drray23]

2. just got mine

Last edited Wed Sep 3, 2014, 02:45 PM - Edit history (1)

My cc company (chase ) just replaced my mastercard with a visa equipped with a chip. Good timing since i am traveling to europe next month. It will make it much easier to transact.

The only drawback is that they say its chip and sign.. the pin is for atm withdrawal not transactions. I guess the real thing will be next. We will finally have caught up with europe who had it for at least 15 years.

[4bucksagallon]

4. Got a scare this week so that is how I found out about it.

I've been visiting for a while in the Philippines and suddenly about a week ago my debit card doesn't work anymore. Credit card works fine for purchases at stores, but leaves me with no cash on hand. So I called the bank back home and they were the ones that told me about the EMV chip, that most other countries had this technology and were rapidly implementing it, but the US eh.... not so much. Not sure what the glitch was but today our card started being accepted at ATM's again. I have to call the bank back and find out if they did something or if it was something here that was the problem. No one needs that kind of headache.

[LittleGirl]

3. We had them in Europe

when we lived there. You need a pin in order to complete the transaction at a store. No signing needed. I look forward to getting my new cards.

[Diclotican]

5. 4bucksagallon

4bucksagallon

I think I have had a pin code for my debit card for as long as I have had a card - back when I was 15-16 year old - and a ship on the card for at least 6 years since my new card arrived ..... I have had the magnetic strip too - but it is seldom used this days where I live...

Sometimes I got "brain fart" trying to remember the pin code - but for the most part I do remember it...

Diclotican

[4bucksagallon]

7. It's not the pin that's the problem it's the card itself.

The new ones have a chip imbedded in the card instead of the magnetic strip. ATM's set to use the new chip and pin won't work for the old magnetic strip cards. Without the chip the card is useless. I am just warning people that this was the first I had heard of the EMV chip implant in the cards and if they travel outside the US they better be prepared that's all I am saying. Forewarned is......lol.

[Diclotican]

8. 4bucksagallon

4bucksagallon

True - withouth the ship - most atm wil not take your card anymore -or more likely just eat it up - and you might be able to get it back in a few days time - if the bank is nice with you

I think the EMV chip have been on most cards at least here in Europe for the last ten years now... or more for that matter

Diclotican

[PADemD]

6. Oh good, another number to remember. : (