Originally Posted by
jamar
And speaking of China, I feel the UnionPay approach is best regarding percysmith's question - Stripe/chip+PIN+signature. Chip OK, PIN OK, bad signature=fraud and hopefully a successful dispute. Well, that's how it is on China-issued UnionPay cards, at least. If HK cards don't use all 3, I think that's a security hole.
HK's chip and sign, unless <HK$193 which qualifies for small transaction (no signature needed).
In HK, almost all retail merchants are chip, which I accept are difficult to clone with today's technology.
Sure, my card still has a magstripe and can still be skimmed and used in a magstripe country, tho I believe HK banks will flag it.
When I travel I usually use a magstripe card of some sort anyway (Amex or Unionpay) due to Visa/MC's DCC woes.
I would hate to have to use a PIN in addition to a signature for all transactions, just slows all transactions down.