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Wait, this is a big deal if swipe is being phased out. Very few us cards have a chip. That will make it impossible for US tourists to use cards in Canada.
by xxpor 14y ago
Wait, this is a big deal if swipe is being phased out. Very few us cards have a chip. That will make it impossible for US tourists to use cards in Canada.
- msbarnett 14y agoTo clarify slightly: Starting in 2015, if your card has a chip, the bank/credit card company will blanket reject all transactions authenticated by swipe. If you have a card from a Canadian institution, it will be replaced by one with both a chip and magnetic strip by that time (and it probably was years ago already). If your card only has swipe (like US tourists), presumably their institutions will still accept a swipe as valid authentication.
- jonny_eh 14y agoWhat if you use a Canadian card in the US?
- msbarnett 14y agoThey detect that and use swipe-authorization in those cases. But you can, and probably should, use the chip in Europe/Asia/Latin America where chip readers are widespread. The banks have been distributing FAQs with all of these answers for years, btw.
- masklinn 14y ago> But you can, and probably should, use the chip in Europe/Asia/Latin America where chip readers are widespread. It's still pretty common to have 2-mode readers there (wehere you can chip or swipe), though they're slowly becoming rarer and I can't remember anybody actually using swipe.
- run4yourlives 14y agoIt will be backwards compatible. :-)