Originally Posted by
kebosabi
Also, isn't Chase one of the largest suppliers of chip terminals up in Canada?
Yes, so hopefully they will be able to leverage that experience for the US
Originally Posted by
richarddd
My understanding is that Chip & Signature has both a standard chip & pin EMV and a standard mag strip. You don't need a pin for mag strip signature, but you need a pin for EMV authorization.
No that's incorrect. Chip and Signature simply means that the EMV chip does not support PIN authentication, however the transaction is still processed following EMV protocols. The difference is you need to sign the receipt rather than entering a PIN. These cards are very common in Asia.
Originally Posted by
sdsearch
So I don't understand the point of anyone in the US issuing Chip & Signature cards but no Chip & PIN cards.
It is an easier first step to issue EMV cards without a PIN because when you issue PIN cards, you need to set up infrastructure to manage and to allow cardholders to change their PINs as well.
Issuing EMV cards without a PIN will probably solve 90% of the problems that Americans experience overseas. The only situations they will not solve is if the terminal is programmed to only accept PIN authentication and nothing else - then the card cannot be used.