In Canada we have had the chips for several years, now almost all the POS machines will prompt you to insert the chip even if you try to swipe it. Destroying the chip will effectively render the card useless.
Not according to Visa, at least not yet. For instance readers on gas pumps have until 2017 to make the change. Mag-stripe will obviously have to work at least until then.
Yes, that is the next step here. It will take a while to get all the equipment upgraded, but is is happening.
That isn't true. Europe went to EMV first because their phone system for online authorizations was either non-existant or charged very expersive per call rates. EMV cards have one option where transactions can be authorized by the card and then uploaded to the bank at a later time.
The US didn't havethat problem and the number of credit terminals in the US is several orders of magnatude greater than in the EU, so upgrading them for a problem that didn't exist in the US made no financial sense.
The phone system isn't a problem in the EU now, but the EMV chip card does work for certain newer threats, so the US is moving to implement it. Where US merchants and banks have an big problem is paying huge sums of money to upgrade their credit terminals, and then be told in a couple of years - "Oh, never mind. We've decided to use scanners that can read smart phones."
| In Canada we have had the chips for several years, now almost all the | POS machines will prompt you to insert the chip even if you try to swipe | it. Destroying the chip will effectively render the card useless.
I'd be happy with that. What I'm not happy with is contactless cards that can be read by anyone nearby and contain a RFID chip (or possibly, in some cases, an EMV chip.) I think this issue is getting confused by the conflation of contact-less IDs with a new style of swipe technology.
I found a PDF with the EMV schedule proposed by the various card issuers. V/MC do say that as of 10/1/15 "the less secure party will be liable", but as far as I can see, neither party is going to be anywhere near having EMV chips in the US by then. As I noted above, I just got a new card and it only has an RFID chip, which I promptly disabled. The last card from that bank, a few years ago, also had an RFID chip. I've yet to see an EMV card.
And I love it. My Amex cashback card gives me back 3%, 2% or 1% cash depending on what I buy. That currently amounts to around US$500 a year for me which I apply to my bill. Since I don't carry a balance, and there is no annual fee, that is free extra cash for me, That's cash I wouldn't have if I paid cash...
One of my cards (Sears Mastercard) was replaced with a chipped card last year. The others haven't.
BTW, more than 10 years ago, my American Express card had RFID. They took that out around 5 years ago.
Wal-Mart wouldn't allow my chipped card to be swiped, I had to insert it in a slot. The other stores required swiping.
| And I love it. My Amex cashback card gives me back 3%, 2% or 1% cash | depending on what I buy.
That's because AmEx charges more to merchants than the other companies. You may get cash back but you're also helping to drive up the prices you pay.
Walmart has actually relaxed their rules about swiping EMV cards. Initially (laste last year) when they first turned on the chip reader at their checkouts, they enforced the rule that EMV cards could not be swipred. They had to be inserted into the chip reader. Depending on how the bank had programmed the card, the user either entered a PIN or signed the signature pad.
What Walmart discovered is that people were easily confused by the card slot, and that some banks had programmed their EMV cards to use a PIN but hadn't informed their customers that they had to use a PIN. The customers in turn got confused over the difference between a debit PIN and a credit PIN.
So Walmart relaxed the rule and allowed chip cards to be swiped. Come this October, they will go back to not allowing EMV cards to be swiped.
Swiping will still be allowed at retailers who do not have EMV card readers. However, the retailer will be liable for any fraud against an EMV card used in a swipe reader, not the bank.
and the 3 digit security code from the back of the card or YOU are responsible for any losses.
My wife's Amex card was replaced with a chipped one about 6 months ago and mine wasn't. I called thinking mine was lost in the mail since in the past we always got our new cards at the same time. They said they were just trying a limited issue and I would get one eventually.
So far my other cards haven't changed yet.
Nope.
My prices are cheaper. I'm helping drive up the prices *you* pay.
I'll bet the IRS longs for the day when there's no more cash and every monetary transaction is monitored by Skynet or its cousin. Hope it never comes.
Not the way you apparently think it does. The chip enables access to chip-secured devices, including door locks. If I want to enter my office building before or after normal business hours, I have to use my secure card to unlock the door. If I want to enter routinely-secured areas that I'm authorized to access, I have to use my card to unlock the doors. If I'm not authorized, the door won't unlock. If I want to use certain devices in the workplace that are restricted to authorized users, I have to use my card, and if I'm not authorized, again - the device will not work.
It's about controlling access, not about monitoring people's movements. If they want to do that, there are better tools available and in use right now. For instance:
Security cameras - Just about every major employer (and a good many small businesses) have security cameras in place. If they want to watch you, they've got cameras.
Computer network monitoring software - Every company that uses a computer network has software installed to track each employee's use of the network. They know what you're doing online and how much time you're spending on it.
It's what the card issuer wants. If you don't like carrying a chipped card, don't carry one. It will result in fewer options for you, but that's the price you'll pay for living on your terms. Just understand you don't get to dictate your terms to the card issuer.
Which is a different issue, and an optional service. The location service is necessary to provide you with information connected to your area. If you're looking for place to park or eat, it needs to know where you are in order to provide suggestions. If you're using a traffic app, same thing. If you don't want to make use of those conveniences, you simply disable location services.
Which again had nothing to do with chips. It is about data collection, which is what you should be primarily concerned with. Any time you pay for something by any means other than cash, your purchase is noted, and this data is collected and sold to companies that create user profiles and sell it to anyone willing to pay for it. Guess what - odds are your employer is providing your employment data to them, too
- including how much sick leave and vacation you take, your pay, your job title, how long you've worked there. If they provide it for free, they get free access to the databases in exchange.
Which happens online now with cookies. Your point?
If you don't want your purchasing habits to be tracked, pay cash. That's your simple solution.
I stumbled across that as well when I started investigating why my EMV card suddenly started asking for signature verification when it had been perfectly happy with PIN verification up until late last fall. I was still using the slot and not swiping.
Among other things, I discovered that my card issuer had change the verification priority on my EMV card to signature because of a banking industry concensus that US card users would be too confused by a PIN request for a credit transation.
While looking into that change, I read about Walmart enabling swiping for EMV cards as a temporary measure.
| Which happens online now with cookies. Your point? |
Speak for yourself. :)
Let me try again, with proper punctuation.
Visa cards issued in the US that are mag-stripe only, work outside of US.
A comma makes all the difference!
Certain high-tech companies use all three of those examples to track your whereabouts in their buildings. Your picture is stored on the DVR's with a timestamp when you present your card to the reader. Going to my old lab, I had to use the card 3 times (the last one got me into the lab). Once in the lab, they know when you sign off & on and group policies make the screensaver come on in 10 minutes with no activity. So if you don't log back on, they know your in the "area" where individual labs are, since you need to tag-out to leave. Even the parking garages have a gate, so if you don't come or leave within a certain time, you have to tag-in or out. Cameras at every door, every corridor, elevator, and public area.
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