Originally Posted by
JEFFJAGUAR
Actually Allie, the simplest and most hassle free is swipe and no signature. Done in seconds! More and more companies are dispensing with signatures, with visa and mc blessing I might add, for small purchases and the reality is, whether you or I like it, is very rare in this day and age since most of the time we swipe our own cards for some 16 year old kid working as a cashier to pick up a few bucks even looks at the signature for amounts under $200. See it every day of the week and twice on Sunday in supermarkets. Now that's truly hassle free; unless your card has been cloned and you get nailed with fraudulent charges I remember reading here of a British visitor to the USA who was absolutely shocked that in many cases no signatures were required and almost never checked on his credit card transactions and that the only place his pin worked was at Walmart! We'll just have to wait and see just how this thing finally shakes out but as I said, it is becoming evident that the USA will be a chip and signature country no matter what. The only question is how many places will use the pin on chip and pin primary cards. I would suggest it will be less than 30%.
So far I haven't seen any places simply disable PIN support altogether, but those were all manned. Restaurants will probably disable PIN support at some point to continue to take cards away from customers as well (BTW I still need to try the DC card at a restaurant to see if this is already the case or if it'll be rejected/made to walk to the back). Kiosks that don't already support debit cards will also likely not support PIN. I have no idea how common the latter is though.
Originally Posted by
AllieKat
P.S. I don't know where you're getting your numbers, but chip and signature is sufficient to eliminate almost all card present fraud. I just hate it because it's a hassle, PIN is so much easier to use. In fact, EMV in the US will have the nice side effect of further reducing card present fraud on cards issued in OTHER countries, as stolen track data is often used in the US.
http://www.reuters.com/article/2015/...0LZ0GC20150303
Credit card companies have set an October deadline for the switch to chip-enabled cards, which come with embedded computer chips that make them far more difficult to clone. Counterfeit cards, however, account for only about 37 percent of credit card fraud, and the new technology will be nearly as vulnerable to other kinds of hacking and cyber attacks as current swipe-card systems, security experts say.
Could just be bad reporting, but meh.
Originally Posted by
Majuki
A move to EMV chip-and-signature alone will not stop opportunistic card use if the legitimate card is stolen and used in a card present transaction. Since the vast majority of retailers don't compare signatures in the US there is still a lot a thief could get away with. As I've said before, perhaps the liability shift will cause a renewed interest in checking signatures.
The liability shift is such that as long as an EMV terminal is used the issuer still has liability. I don't think it'll affect retailers' behavior all that much (as in, they still won't check signatures). Retailers in other countries do additional stuff on top of signature checking precisely because signature is no longer common or expected.