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Wait, the US is still on magstripe? Isn't that literally just a bar code? No challenge-response, or encryption? Fraud detection seems like the wrong thing to be
by franga2000 7y ago
Wait, the US is still on magstripe? Isn't that literally just a bar code? No challenge-response, or encryption? Fraud detection seems like the wrong thing to be focusing on if that's the case...
- hnuser123456 7y agoIn my area, almost everything has been chip for the last couple years, except gas stations. My local gas station just installed chip readers a few months ago.
- Teever 7y agoYeah, it's even worse than that. I was recently in the bay area and I went to pay for a burger with my Canadian chip&pin card and when I the card in the transaction was automatically approved with no need to enter the pin. This was quite alarming.
- hnuser123456 7y agoYeah, we do chip, and maybe signature if we feel like it
- cmbailey 7y ago"feel like it" is practically never. I haven't had anyone ask to see my physical card to compare signatures in over five years.
- ZeikJT 7y agoIsn't this really in service of the customer to not waste their time? The store is the one shouldering the risk because if it turns out to be a thief using the card the store loses money/goods. The more they try to verify you are who you say you are the less risk they are incurring. That's a benefit of credit, it's less risky for the consumer in the end.
- cmbailey 7y agoAbsolutely. Just providing information posters like the one above who don't live in the US and might be surprised that no authentication happens here.
- pintxo 7y agoGermany here, there is a lower limit, below which we do not have to enter a pin. Maybe the same for you?