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Meanwhile, credit card companies are attempting to use Chip and Pin to push liability back onto the consumer. Their reasoning is that chip and pin is so secure

• kazinator 11y ago
  With Chip and Pin, you can simply be taken by robbers to a dark alley and forced to give up your PIN. They can verify the correctness of that PIN using portable terminal on-the-spot, so you cannot lie to them. (They don't have to take you to an ATM, where there might be cameras.)
  • zzalpha 11y ago
    Sure. But that's a pretty extreme case. Chip, alone (that is, chip and sign), is intended to prevent card duplication, which represents the vast majority of credit card fraud. Chip and pin is intended to prevent lost or stolen cards from being used, which makes up most of the rest. Since these two represent, by far, the bulk of credit card fraud, the presumption is that credit card companies could now claim the consumer is responsible for their own security. The theory is that now that credit cards have the same level of security as a debit card, just as banks won't reimburse you for losses, nor should credit card companies.
  • splix 11y ago
    When you use such card in a store you're exposing your PIN to a person next to you (at least). So he can just follow you to a dark alley and rob you
    • kazinator 11y ago
      There is no need for the dark alley if someone has obtained your PIN; he or she just needs to purloin the card.