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That's changing as of this month. Most banks have already issued new chip cards, which require a PIN. If a merchant is still using the old swipe and sign system
by simantel 11y ago
That's changing as of this month. Most banks have already issued new chip cards, which require a PIN. If a merchant is still using the old swipe and sign system, now they'll be liable for any fraudulent transactions if the customer has a chip card.
- jrockway 11y agoThe system in the US is not chip-and-PIN, it's chip-and-signature.
- hollerith 11y agoAll of the new chip cards in the US I've read about are signature only. It was decided that the US consumer would dislike the added complication of needing to use PIN. I'd like a chip card that requires a PIN (and that is accepted widely in the US) because such a card would make unauthorized charges less likely after the card is lost or stolen, but was not able to find one.
- doppelganger27 11y agoI have a US chip card where I've set a PIN for transaction purposes, so it's not signature only, but it'll still accept both. That said, all of the chip card readers that I've used (few and far between still...) seem to have been configured for signature only, so I haven't been prompted for my PIN yet.
- hollerith 11y agoThanks for clarifying. I agree that my "signature only" was inaccurate.
- hueving 11y agoIncorrect. The new cards are chip and signature. No pin involved.
- bpicolo 11y agoDebit cards are chip and pin now, granted