2.10.15

Today, all stores in the US should accept chip-and-PIN cards. Yeah, right. | Ars Technica

Today, all stores in the US should accept chip-and-PIN cards. Yeah, right. | Ars Technica: "On top of this, the US credit card industry isn't fully upgrading to the most secure version of EMV. Although new credit cards will have a chip that generates a new code every time the card is used at a terminal, guarding those cards from fraudsters who collect credit card numbers wholesale and reuse them on counterfeit credit cards, card users are also encouraged to set up a PIN and input that number after every transaction.

But issuers like J.P. Morgan Chase and Discover will still allow customers to use a signature to authenticate transactions, and signatures can be forged more easily than PINs. "US bank executives said they are choosing the signature version so customers won’t be burdened at the checkout line to remember a new four-digit code," the Wall Street Journal reported in January. Julie Conroy, research director for retail banking at Aite Group, told CreditCards.com that "It will probably take two to three years to fully convert to chip-and-PIN.""



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