4 ms·
What's the advantage of chip + PIN over stripe + PIN?
by RK 16y ago
What's the advantage of chip + PIN over stripe + PIN?
- scottallison 16y agoIn the first full year after chip & pin became mandatory in the UK card fraud in stores dropped by 47%. While retailers can still accept signatures, if they do so they are not guaranteed the funds. Before the change, if the signature matched then they got the funds regardless. Now the only way to be sure you get paid is to accept PIN authorised transactions. What this article doesn't say is that a lot of stores ask for ID when paying by card... something that always surprises me; this NEVER happens at home.
- nzmsv 16y agoIt is much more difficult to clone a chip card than a magnetic one.