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Good point, yet the remainder is still significantly more than 0.3%. It seems fraud is much worse in the US. That could be a factor too. https://www.google.com
by wgj 10y ago
Good point, yet the remainder is still significantly more than 0.3%.
It seems fraud is much worse in the US. That could be a factor too.
https://www.google.com/search?q=credit+card+fraud+us+vs+europe https://www.google.com/search?q=credit+card+fraud+us+vs+euro...
- nucleardog 10y agoChip and pin, yo.
- rogerbinns 10y agoChip only helps for cardholder present transactions. It doesn't help for other transactions such as online, over the phone, subscriptions etc.
- radicalbyte 10y agoYou can only pay online with debit cards if you use two factor authentication in Europe (eurozone). It's basically free though (cash is more expensive to handle), unlike credit cards.
- pjc50 10y agoVerified by Visa/3d secure? It's not exactly two factors, it's just more tedious data entry you have to do. And I've got it turned off on my card. Actual 2fa would be great. I was wondering about the enourmous amount of work that would enable websites to support contactless ..
- nikita2206 10y agoNo, the processor will redirect you to the page of your bank where you need to enter a code sent by sms by your bank. This is true 2fa, it works at least with all Russian banks I've used and I'm sure it works in EU the same way (I thought it was like that everywhere in the world?)
- pjc50 10y agoNope. UK Mastercard, no verification or 2fa. I guess we're not as secure as Russia in this case!
- WalterSear 10y agoThat page always sketches me out, to boot. Could they have made it look/behave more like a phishing scam?
- kalleboo 10y agoMy EU banks (Sweden) implement 3dSecure with either a 2FA phone app or a physical chip card reader that signs a one-time code. Real 2FA.
- the_mitsuhiko 10y agoMy Austrian bank has actual 2FA and pretty sure that is nandatory in the eurozone for new cards.
- sfifs 10y agoWell you can always try the India model which is Chip and Pin for cardholder present transactions and mandatory two factor authentication for online. One result of this strict policy though is automatic subscription card billing is essentially illegal.
- douche 10y agoSo far, the only result of the switch to chip cards that I've been able to see is that it takes about five times as long to check out anywhere.