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Before we pop the champagne, note that we still have minimal PIN penetration in the US, even with EMV cards, and it's up to the merchant to decide whether or no
by mwexler 9y ago
Before we pop the champagne, note that we still have minimal PIN penetration in the US, even with EMV cards, and it's up to the merchant to decide whether or not to require the signature. Legalities could mean that merchants feel safer still requiring a signature, so until PIN comes through everywhere (or alternative auth/verification/etc. approaches), we may not get the ease we are hoping for immediately.
- teej 9y agoIf MasterCard isn’t going to offer lower rates for card present w/ signature vs card present w/o signature then you can guarantee smart retailers will choose to opt out of signatures. Instantly shave 5-30 seconds off your average transaction time.
- mjcl 9y agoAnd you no longer have to store the paper / electronic signatures.
- criddell 9y ago> Instantly shave 5-30 seconds off your average transaction time. McDonald's clearly cares about this. They have the fastest card readers around. I've always wondered if they are actually running the transaction in real time, or just collecting the card info and running it later, accepting the losses from the occasional bad read.
- jlgaddis 9y agoYep, I have a half dozen credit cards in my wallet and a few more in a drawer and I have no clue what my PIN is for any of them (or if I even have one). The only PIN I know is the one for my ATM card.