08-29-2018, 03:22 PM
It comes down to this:
What's easier for a machine to verify, a 4 digit PIN, or a signature?
I don't know ANYONE who has ever had to "verify" their signature for a credit card transaction, and in fact know people that just scribble on the signature screen, without bothering to sign it with their signature.
How is that secure at all?
At least with a PIN, it's checking against something.
I've noticed the speed of the machines has improved dramatically in the last year. Still slower than a swipe, but much improved over a year ago.
I don't know if the "Chip and PIN" is the cause, but credit card fraud in Europe is something like 2/3 LESS than in the U.S./Canada.
What's easier for a machine to verify, a 4 digit PIN, or a signature?
I don't know ANYONE who has ever had to "verify" their signature for a credit card transaction, and in fact know people that just scribble on the signature screen, without bothering to sign it with their signature.
How is that secure at all?
At least with a PIN, it's checking against something.
I've noticed the speed of the machines has improved dramatically in the last year. Still slower than a swipe, but much improved over a year ago.
I don't know if the "Chip and PIN" is the cause, but credit card fraud in Europe is something like 2/3 LESS than in the U.S./Canada.