Originally Posted by
LoneTree
I don't know on what basis they can make this assertion given that I have yet to encounter a single POS unit in my area that will even accept an EMV transaction. How can Americans prefer any non-existent option?
They're pretty much making assumptions based on how we currently do via swiping the mag-stripe: "people are used to signing for credit cards, punching in PIN for debit cards, therefore it should remain the same."
Of course, I have yet to hear or have attended any bank or industry sponsored seminars that takes into consideration of the consumers' POV. Most of these EMV talks have been restricted to financial institutions, the payments industry, and merchant groups, with little or no input from the people who are to use these cards: us, the consumers.
You know, when people joined Andrews FCU or State Dept FCU via the American Consumer Council, wouldn't it make sense that this consumer council should have a voice in EMV from the consumers' POV?