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The US credit card system is also the reason we still have magstripes and all the fraud that goes along with it because chip & pin is still not everywhere there

The US credit card system is also the reason we still have magstripes and all the fraud that goes along with it because chip & pin is still not everywhere there. Not to mention making payments available using nothing but info printed on the actual card being a very bad idea. Especially because in Europe we lack all the cool payment protection and insurance stuff that US cards offer.

ferdowsi 4y ago
The credit card companies strongly push merchants to adopt EMV chips by shifting liability for chargebacks onto merchants who are still using magstripes. I don't think I've seen a non-chip capable terminal in the last year.
- GekkePrutser 4y ago
  Good but still a decade too late. The CC companies won't remove the actual magstripe (and thus the vulnerabilities it represents!) until it's not necessary anywhere. Here it's been banned from all payment terminals since 2014 IIRC. But skimming is still a thing because they send the card scans to other countries where magstripes are still permitted :(
- Symbiote 4y ago
  The liability shift in Britain was on 1 January 2005. In the USA, gas station transactions only had this shift in 2021. > The magnetic stripe will start to disappear in 2024 from Mastercard payment cards in regions, such as Europe, where chip cards are already widely used. Banks in the U.S. will no longer be required to issue chip cards with a magnetic stripe, starting in 2027. [1] My cards' magnetic stripes haven't been used for at least 10 years. [1] https://www.mastercard.com/news/perspectives/2021/magnetic-stripe/ https://www.mastercard.com/news/perspectives/2021/magnetic-s...
  - GekkePrutser 4y ago
    Oh great to hear that the magstripe is disappearing! Not being able to use my card in remote areas abroad without chip+pin is not an issue for me. I'm much more concerned with skimming. Especially because even if the bank guarantees it, it's still a big hassle.

ferdowsi 4y ago

The credit card companies strongly push merchants to adopt EMV chips by shifting liability for chargebacks onto merchants who are still using magstripes. I don't think I've seen a non-chip capable terminal in the last year.

GekkePrutser 4y ago
Good but still a decade too late. The CC companies won't remove the actual magstripe (and thus the vulnerabilities it represents!) until it's not necessary anywhere. Here it's been banned from all payment terminals since 2014 IIRC. But skimming is still a thing because they send the card scans to other countries where magstripes are still permitted :(
Symbiote 4y ago
The liability shift in Britain was on 1 January 2005. In the USA, gas station transactions only had this shift in 2021. > The magnetic stripe will start to disappear in 2024 from Mastercard payment cards in regions, such as Europe, where chip cards are already widely used. Banks in the U.S. will no longer be required to issue chip cards with a magnetic stripe, starting in 2027. [1] My cards' magnetic stripes haven't been used for at least 10 years. [1] https://www.mastercard.com/news/perspectives/2021/magnetic-stripe/ https://www.mastercard.com/news/perspectives/2021/magnetic-s...
- GekkePrutser 4y ago
  Oh great to hear that the magstripe is disappearing! Not being able to use my card in remote areas abroad without chip+pin is not an issue for me. I'm much more concerned with skimming. Especially because even if the bank guarantees it, it's still a big hassle.