Originally Posted by
EUnomad
If you are talking about inventing a new kind of chip and pin card that omits the magstripe, that would be an improvement, but still only a "no brainer" after new statutes are introduced to nullify the extra legal risk to the consumer with regards to PIN authentication. So if bringing in something new, why not skip straight to the next advancement, and bring in biometrics and virtual numbers?
Chicken and egg issues.
It makes much more sense to first make cards that do both, then once everyone has such cards, phase out swipe
readers. If there's nothing left that can accept the swipe part of a card, how is the (now useless) swipe part of the card a security problem?
If you make a card which only uses brand new technology, then it can only be used with brand new readers. Thus likely very poor acceptance at the start.
Here in the opinion discussion thread, perhaps people are more concerned with EMV as to the security issues. I'm here as a sidebar to the practical discussion thread, where we want EMV for compatiblity with EMV-only card readers in Europe and elsewhere, and are not concerned with whether it's higher security or lower security or whatever. Those of us who are interested in EMV for increasing acceptance of our cards overseas certainly don't want it replaced by a new technology that is not yet accepted anywhere! That may be wonderful in theory, but fairly useless for travelers. (And travelers, I though, were what FT is about.)