3 ms·
I think most us cards have chips, but no pins. It’s bizarre.
by AlphaSite 6y ago
I think most us cards have chips, but no pins. It’s bizarre.
- johncolanduoni 6y agoI used to think the same thing, but it turns out it actually makes sense (at least in the US): the vast majority of credit card fraud is counterfeit cards, not stolen cards. Requiring a chip which can’t be counterfeited from a list of lifted CC numbers (and sometimes track codes) solves most of the problem as far as card present purchases are concerned. That and shifting more liability to merchants if they don’t support chip readers.
- imtringued 6y agoYou can't skim the chip but you can trivially intercept the PIN.
- seppel 6y agoMy card has a PIN but the PIN is actually quite dangerous. If someone gets my PIN, then it fraudulent transactions become my problem. Whereas a stolen credit card number is a problem for the bank or the merchant.
- mrjin 6y agoPIN is not going to help you as transactions made with PIN will be deemed made by you and you are most likely going to cover the loss if fraud did happen.
- withinboredom 6y agoMy bank has programmable pins. So one pin goes to account X, and the other goes to account Y. It's super handy when travelling so we can have our "per diem" attached to one pin, and then have another pin for things that would fall outside of that purpose.