08-29-2018, 06:32 PM
I think the problem being addressed with the chip is duplicating a physical card with someone else's numbers. Easy for a counterfeiter to program a magnetic strip, harder to program a chip.
It does nothing for online fraud. Apparently in-person retail fraud is still the bigger fish?
Seems to me a PIN would help with the online part, but even that is just another piece of information that can be stolen in a breech.
This.
All of this.
I'd chip and pin be the standard for POS use when Apple Pay or one's TnP of choice is not available. One bank's card had a one-time card number. That would be a big help, too.
I don't have to use a PIN when I use my debt or credit card, but I do have to use one with Apple Pay (except at McDonald's and El Pollo Loco). If I recall correctly, there was one place that didn't require a PIN with Apple Pay, but did require a signature. I don't remember the dollar amount.
I'm OK with AP and PIN, but I'd be OKer without it.
It does nothing for online fraud. Apparently in-person retail fraud is still the bigger fish?
Seems to me a PIN would help with the online part, but even that is just another piece of information that can be stolen in a breech.
This.
All of this.
I'd chip and pin be the standard for POS use when Apple Pay or one's TnP of choice is not available. One bank's card had a one-time card number. That would be a big help, too.
I don't have to use a PIN when I use my debt or credit card, but I do have to use one with Apple Pay (except at McDonald's and El Pollo Loco). If I recall correctly, there was one place that didn't require a PIN with Apple Pay, but did require a signature. I don't remember the dollar amount.
I'm OK with AP and PIN, but I'd be OKer without it.