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Loop is a great hack, but my only concern with this system is that merchants in Europe are many times obliged to ask for the buyers' ID when paying with mag str
by antr 13y ago
Loop is a great hack, but my only concern with this system is that merchants in Europe are many times obliged to ask for the buyers' ID when paying with mag stripe CC. This means that users need to have their physical CC at hand at all times. I know this ID thing is not the case in the US but this can be a legal issue in Europe.
On another note, does anyone know why the US has not transitioned to chip and pin cards?
- giarc 13y agoI would probably carry the fob around simply to replace all the loyalty/membership cards that take up a large proportion of my wallet. It won't replace my credit/debit cards as they have chips but my less secure cards don't require the merchant to verify physical card or name etc.
- anemic 13y agoYes, and at least in Finland the merchant has to inspect the physical card to see that the name on the card matches the buyer's ID. (In practise it seldom happens.)
- rsayers 13y agoI just got back from Europe where I used my mag stripe card quite a bit. In the UK I was asked for an ID almost 100% of the time and merchants seemed do a good job of actually matching data, and then matching my photo id to me. In France it was hit or miss, I'd say maybe 25% of the time I was even asked for an id for a transaction.