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Are they talking about something like this: https://en.m.wikipedia.org/wiki/Credit_card_imprinter https://en.m.wikipedia.org/wiki/Credit_card_imprinter Or is t

• daveoc64 1y ago
  There's no technical breakthrough, but it might seem novel to people in countries like the USA where offline authorisation hasn't been widely allowed on credit and debit cards for some time. https://en.wikipedia.org/wiki/Online_authorisation https://en.wikipedia.org/wiki/Online_authorisation In many countries in Europe, offline authorisation is more common. Cards have had a chip as standard for over two decades in European countries, and a PIN is often used for cardholder verification. Combined, these make the risks of accepting a transaction for a small amount of money offline very low. The limit of what can be accepted offline is known as a "floor limit" in the UK.
• Phui3ferubus 1y ago
  This is just reenabling existing technology. Card chip already has everything required to verify the card and PIN[0], the only thing internet access is required is checking if account is not empty/over limit. [0] That also means that after changing PIN on bank site, you have to visit ATM, so new PIN is actually stored on card - but that it only required for that offline mode.