Olde Hornet
Well-Known Member
This has been my complaint with the new cards, I dont think the credit card industry in the US will address this until the costs is to high. These new cards will be more expensive to reissue. The rest of the world uses these cards with a PIN, but the US credit industry does not want to ask us to use a PIN, in reality, they dont care if your credit history gets screwed over, they only care about their costs.
http://www.usatoday.com/story/money...t-consumers-retailers-tell-congress/73523002/
Our credit cards are now secured with computer chips, but the world’s largest retail trade group says consumers are no safer, while businesses are being forced to spend up to $35 billion.
Most banks and credit unions are issuing credit cards that require a signature, rather than a PIN, a move that the National Retail Federation says means businesses are spending a fortune on terminals and software that will process "partially protective cards'' that are still vulnerable to data breaches.
“The new EMV equipment does not stop breaches,” said David French, NRF senior vice president for government relations, in a statement submitted to the House ofRepresentatives’ small business committee. “Indeed, in many cases it provides no significant benefits either to the business or to the business’ regular customers. It is merely an additional expense small businesses are being told to bear.”
http://www.usatoday.com/story/money...t-consumers-retailers-tell-congress/73523002/
Our credit cards are now secured with computer chips, but the world’s largest retail trade group says consumers are no safer, while businesses are being forced to spend up to $35 billion.
Most banks and credit unions are issuing credit cards that require a signature, rather than a PIN, a move that the National Retail Federation says means businesses are spending a fortune on terminals and software that will process "partially protective cards'' that are still vulnerable to data breaches.
“The new EMV equipment does not stop breaches,” said David French, NRF senior vice president for government relations, in a statement submitted to the House ofRepresentatives’ small business committee. “Indeed, in many cases it provides no significant benefits either to the business or to the business’ regular customers. It is merely an additional expense small businesses are being told to bear.”
