As soon as I read the title, without visiting the link, my mind went “ooh, Samy built a new toy”. This guy just keeps on giving.
Can someone comment on whether this is still relevant for transactions in the rest of the world?
I can’t even remember the last time I had to swipe a card. Probably not in the last 5 years.
I really hope that the non-US banks did get rid of the functionality to disable Chip-and-Pin with the magstripe.
Edit: Looks like since 2013 neither payments nor withdrawals support magstripe anymore, neither by default nor as a fallback.
I live in Central Europe, in 99% of cases chip CC is good, but my favourite shop with food still has swipe terminals (this is the middle of a 600k city).
In Denmark magstripe is still common as a fallback. The chip readers seem relatively error prone, so sometimes you try the chip, doesn’t work, try cleaning it and inserting again, still doesn’t work, then the clerk hits a button and asks you to swipe instead.
Weird. Well maybe the clerk just copies the data from the card and the owner later debits from the account using the card information manually?
I have never encountered an issue with those cheap readers ever.
The US moves pretty slowly on this stuff because of the reluctance to adopt a technology (especially in finance, we still use checks all over the place) until proven legally. To combat this reallllllllly slow adoption for EMV, most providers have begun to shift Liability from card issuers to merchants that don’t use EMV. The liability shift just started last month, but it’s more to force the merchants to use newer, more secure tech. Most major US banks have reissued credit/debit cards with EMV.
It’d help if merchants could use chip+pin, beause all I’ve enountered is chip+wait 60-90 seconds+signature. A huge step back in transaction time (like waiting behind someone who’s writing a check) compared to swipe+signature with no waiting.
I don’t think pin makes it any faster. You have to leave the card in the reader until a connection is established and the transaction negotiated. With mag stripe, there wasn’t two way communications, so it could take place while putting your card away.
ahh, right, thanks for the correction. I read up a bit more and it seems longer because the card stays there, vs. the quick swipe. Perception counts, though. I should do some empirical testing and see how long it takes from swipe->receipt vs. dip->receipt.