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Started By
Message
re: Credit Card Chip system. Or not?
Posted on 10/25/16 at 7:20 am to ATL-TIGER-732
Posted on 10/25/16 at 7:20 am to ATL-TIGER-732
quote:
New security flaw in credit card chip system revealed
Other flaws were identified at the Balckhat conference this year. They are not as secure as they try and make you believe because, Hackers gonna hack.
0
Posted on 10/25/16 at 7:26 am to efrad
They have nothing to do with security (Just affects who is liable in the case of fraud).
Posted on 10/25/16 at 8:11 am to LanierSpots
Feel free to correct my ignorance, but wouldn't using Apple Pay or Android Pay be the most secure transaction you could get? NFC followed by a biometric security measure?
If that's correct, it's kinda dumbfounded that retailers aren't pushing this.
If that's correct, it's kinda dumbfounded that retailers aren't pushing this.
Posted on 10/25/16 at 8:48 am to LanierSpots
Where do you live? About 90% of the retailers I frequent use the chip.
Move out of the sticks, Jethro.
Move out of the sticks, Jethro.
Posted on 10/25/16 at 8:58 am to LanierSpots
quote:
So about a year ago, everyone had to change credit cards and debit cards to get the new cards with the "Chip Technology" on them. A lot of talk and BS
A year later and I rarely purchase something at a place that actually uses or has the Chip reader? WTF? I thought this was suppose to be some kind of major security break through
I would say 10% of the places I use my card in person, uses a chip reader. I just swipe and move on
The law is that if fraud occurs and the business is not using the chip reader then they are responsible and not the card issuer. I assume most businesses are taking the gamble until it doesn't make financial sense anymore.
Posted on 10/25/16 at 8:59 am to elprez00
quote:
If that's correct, it's kinda dumbfounded that retailers aren't pushing this.
because they want their cut
Posted on 10/25/16 at 2:38 pm to Pavoloco83
quote:
Not 100 percent sure, but if fraud happens with your card in such a situation, the merchant may or may not honor any fraud coverage like the bank would.
I don't think you understand what you're saying. If someone steals my credit card number and clones it to a fake card and goes to [Retailer] and buys a TV using a swipe, of course I'll be covered for the fraud--the credit card company would reverse the charges. They're not gonna say "Sorry, the thief did it with a swipe--Go call [Retailer]." When they reverse the charges under normal circumstances, the credit card company eats the fraudulent charge. Since the liability shift, I assume they charge [Retailer] for the fraudulent charge reversal.
Posted on 10/25/16 at 2:40 pm to elprez00
quote:
Feel free to correct my ignorance, but wouldn't using Apple Pay or Android Pay be the most secure transaction you could get? NFC followed by a biometric security measure?
If that's correct, it's kinda dumbfounded that retailers aren't pushing this.
They aren't pushing it because 1) It costs money to implement 2) They still have to take older credit card types, which is where the fraud would occur.
In addition, many retailers were banding together to push their own payment apps over Apple Pay/Android Pay so that they could do things through their own app without having to pay a % to another company. CurrentC is an example of that. But CurrentC went under, so now certain retailers that were in the CurrentC alliance like Best Buy are taking Apple Pay.
Posted on 10/25/16 at 2:52 pm to MountainTiger
quote:
Very few places here don't have the chip reader. Which sucks because the chip is much slower than swiping.
I understand the software is being redesigned to complete the transaction in under 3 seconds. I don't have an ECD or when it is targeted for production. Major customer complaint has been the wait times for chip processing.
Posted on 10/25/16 at 3:00 pm to Mo Jeaux
quote:
The mark of the beast
What if I do it before the anti Christ makes me do it? I'd like to not have to carry a wallet
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