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> CC companies in the US made the moronic determination that the American consumer could not handle the complexity of the PIN Or maybe they did the math, found
by rohansingh 6y ago
> CC companies in the US made the moronic determination that the American consumer could not handle the complexity of the PIN
Or maybe they did the math, found that the average US consumer has a handful of credit cards, and figured that if they put a PIN on their card it would get used less. Resulting in less profit for the credit card company.
- amiga_500 6y agoI don't think this is correct, because competition hasn't created a better outcome.
- kerkeslager 6y agoCompetition doesn't produce good outcomes, it produces winners who then have a monopoly and can create barriers to entry so that competition no longer exists.
- ricardbejarano 6y agoEver heard of market regulation? Also, don't forget the "winners" are appointed by the consumers, if everyone likes your product what can you do about it? Are consumers supposed to skip the best option just because the company behind it is getting too big?
- kerkeslager 6y ago> Ever heard of market regulation? Yes, that's what I'm suggesting. > Also, don't forget the "winners" are appointed by the consumers, if everyone likes your product what can you do about it? Ever heard of market regulation? Shifting blame onto consumers doesn't fix the problem. Instead of establishing who is to blame, we could fix the problem. > Are consumers supposed to skip the best option just because the company behind it is getting too big? This is exactly why blaming consumers doesn't fix the problem.
- amiga_500 6y agoAh yes, my mistake!
- Spooky23 6y agoFor who? The big credit card banks make a lot of money.
- harperlee 6y agoAt least in Europe PIN cards can still be swiped, so you don’t have that problem.
- RealStickman_ 6y agoOnly up to a certain threshold. After that you have to enter the pin.