Should USA card issuers adopt EMV (Chip & PIN)? [Opinion discussion]
#226
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CitiAAdvantage cards being replaced with EMV version
Had a little surprise in the mail today; my CitiAAdvantage card was upgraded to one with the EMV chip on it.
My card is NOT the CitiAAdvantage Executive card, it's the REGULAR CitiAAdvantage World Elite Mastercard.
When I first saw the mail, I groaned "ugh, not another replacement card." However, upon opening it had a flyer in it regarding "chip-based" technology. When I peeled off the sticker, the new card had a chip on it! ^
My card is NOT the CitiAAdvantage Executive card, it's the REGULAR CitiAAdvantage World Elite Mastercard.
When I first saw the mail, I groaned "ugh, not another replacement card." However, upon opening it had a flyer in it regarding "chip-based" technology. When I peeled off the sticker, the new card had a chip on it! ^
#228
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True, but at least I don't have to pay an arm and a leg in annual fees for it. That was one thing that was keeping me from getting the Executive card so it was a nice surprise.
#230
Join Date: Feb 2010
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Looks like Citi is trying other technology too, according the above article.
(Article discusses a "2G" credit card, which has a reprogrammable magstripe and claims security featues that will prevent skimming, perhaps better than chip and pin)
The neat things about standards, is there are so many to choose from
#231
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Confused a few merchants for a while, but now most understand it.
I read something 5-6 years ago in New Zealand that the majority of first year students in a university finance course had no idea about how cheques worked. Majority of my late-20s friends in NZ don't have chequebooks and never have.
#232
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Do you think the move to EMV will prompt US card issuers to provider readers for use @ home for online purchases? Multi-factor authentication for credit card purchases should be more secure.
Is it common for non-US card issuers to issue readers?
Is it common for non-US card issuers to issue readers?
#233
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Mastercard and Visa are rolling different technology to deal with online transaction securiity:
Mastercard SecureCode which is their implementation of Verified by Visa
Citi has their '2G' card, which an article in AmericanWay last month reported the possibility of a one-time CVV code feature.
#234
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#235
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Here's an interesting read on VISA's stance on EMV in the US.
http://www.bankinfosecurity.com/inte...wID=1354&opg=1
http://www.bankinfosecurity.com/inte...wID=1354&opg=1
#236
Join Date: Apr 2007
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Citi has their '2G' card, which an article in AmericanWay last month reported the possibility of a one-time CVV code feature.
I'd assume they'd do it as an "opt-in" thing (at least at first).
#237
Join Date: May 2010
Posts: 583
It is used for ATM cards.
Instead of registering for a set of Login ID and Password to use Online Banking,
people in Taiwan visit the bank's webATM page, insert their Chip ATM card into the card reader, enter the PIN for the ATM card ( the same PIN as they would be using in an ATM on the street ) and perform an Interbank transfer to the business to complete a transaction.
Intel is pushing to integrate NFC to their platform. It would be great if Internet transactions can be paid with a tap using a PayWave / PayPass / Express Pay card without entering a whole string of billing info ( Address , Card number, Expiration, CVV2 etc etc )
#238
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PayWave/PayPass never seemed to take off in the US for some reason. Don't know what could be easier than waving your credit card in front of the machine. Hopefully NFC adoption will be more widespread.
#239
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Maybe because not many banks issue them with the contactless chip inside the card? Many opt to issue them with keychain fobs or stickers that you put onto your cell phone.
#240
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It may be easy, but it's not needed. It's a solution to a problem that doesn't exist. Why would merchants spend even a small amount of money on a reader that can read a contactless card, when swiping a magnetic strip literally takes 2-3 seconds?