Many times, it doesn't take 20+ seconds except for once. Most of the time it's 5 seconds or so.
Maybe where you are. Not for many of us, where 10-30 seconds is the norm everywhere we use it.
Many times, it doesn't take 20+ seconds except for once. Most of the time it's 5 seconds or so.
No consumer benefit to credit card users, possible benefit for debit card users.
We know _why_ the chip cards are used.
We're annoyed that we have to stand there waiting 5-30 seconds for something which should be practically instant.
That it's protective doesn't mean that it's not annoying.
PIN is supported with the Square Miura reader. Look that one up.
Yeah, you can. It wouldn't be very useful if it only had Bluetooth.I believe you can plug this new reader directly into the stand using USB.
That Miura is UK company. Square may have partnered with them but I doubt it works everywhere (I'm guessing just in Europe). Square obviously is targeting the US market and sees that chip and signature is minimum requirement so they probably abandoned the Miura and came out with their own bare minimum hardware. We would have heard more about the Miura otherwise.That's interesting, thanks for the reference. I had looked on Square's website, and couldn't find ANY products that supported a PIN. And now that I know it's there, I still can't find a link to it -- I had to find it with Google. But, maybe I'm missing something.
It's like Square doesn't want you to find it, unless you know exactly what to look for. And, it looks like a good solution: it supports NFC, chip, and mag-stripe -- right now. The reader is only a bit more expensive at $129.
There has been people on YouTube, and my Square app has the support for the Miura reader used in the US. It does seem peculiar that Square doesn't want you to find it, and the only way I found out about it was digging through the Square app and I found references to it, and I looked it up on Google.That Miura is UK company. Square may have partnered with them but I doubt it works everywhere (I'm guessing just in Europe). Square obviously is targeting the US market and sees that chip and signature is minimum requirement so they probably abandoned the Miura and came out with their own bare minimum hardware. We would have heard more about the Miura otherwise.
Us Americans sound like such idiots when comments like this are made.
Do you even know why we're switching to chipped cards? Do you know the first thing about them?
You defended someone who doesn't have a clue about what he's talking about.
I explained about the encryption/ one time code, cloning, etc, and you think he knows more than I do about chipped cards? Fat chance...
Don't quit your day job. Words can't express how idiotic you look.
You seem to be having trouble focusing on my words. We don't care about the "encryption/ one time code, cloning, etc". I'm sure you probably know more about how the plastic for the card is molded, too, but it's irrelevant to the discussion. The point is, the commenter said that the chips were to protect banks, NOT consumers. And he was right.
Please, please, try to find the words to describe how idiotic I look. I'm sure it would be entertaining.
The point isn't why, or what security problem it solves. The point is that it sucks to use. It is a noticeably worse experience than swiping your card.
There has been people on YouTube, and my Square app has the support for the Miura reader used in the US. It does seem peculiar that Square doesn't want you to find it, and the only way I found out about it was digging through the Square app and I found references to it, and I looked it up on Google.
Honestly the real reason that Square isn't promoting it, seems to be because quite simply put, the Miura reader is ugly. Square's products mirror that of Apple's and that is what they're going for. The Chip & Signature reader they're offering is simple, and quite to the point, and looks really nice. The Miura reader, looks outdated and ugly. They probably are offering this to businesses who want it right now, rather than waiting for the Contactless and Chip & Signature Reader.
Because you're used to swiping your card.
When we have to change what we've been doing, most new things suck at first.
Yes, we have to change a simple operation to a more difficult one. The placement of the reader slot on every machine I've seen is impossible to see from a standing position, and requires feeling around or squatting down to find it. You have to be mindful of the prompts to know when to insert it and when to remove it, or the entire operation will fail. Many modern swipe machines had reached the point where you could swipe your card at any time, even before the clerk was finished scanning your items.
It's now an extremely regimented and ergonomically crappy experience. We'll "get used to it", sure. We don't really have a choice.
Good lord, the reason why the US is going to Chip and Sig isn't for security, it's for convenience. They know that the longer transactions take, the less happy the merchant and the customer will be. Add the fact that the most common PINs are 0000 and 1234, and the fact that people are dumb, and you'll have problems. Yes, the sig doesn't mean anything, but who cares. As a consumer, my credit card company takes care of all fraud, and all these cards are still vulnerable to CNP transactions.
I did notice the newer Verifones have a lit up chip slot whenever it's active, so that might help in finding it.
I use credit cards for almost every purchase, but that doesn't mean I want it skimmed and then have to update all of my information through my vendors or go through the process of calling Chase and explaining what happened. I'd also rather have a dynamic transaction code for every transaction, rather than a static information transfer.
Ask the Brits and the Canadians about the benefits of the chipped cards... Look at how low their fraud rates are now compared to what they were before they implemented chip cards.
From my experience, most American's are too lazy to try something new. It's like we're dumber than every other country even though we have more money than most.
I'm sure we'll be just fine seeing as the Canadians and everyone else in the world uses the technology just fine. I did notice the newer Verifones have a lit up chip slot whenever it's active, so that might help in finding it. Personally I'll trade a small inconvenience for security any day. It's like the difference of getting visually checked vs. getting screened, wanded, etc, at airport security, which one would you choose?
The fraud just moves from magnetic counterfeit cards used in person, to online fraud without even having to make a counterfeit card. The effect on the user is the same. You still have to update your information if the number is stolen. Happened to me just a few weeks ago.
A while ago I said that I'm totally expecting people to claim that EMV did/will do absolutely nothing for fraud. I didn't expect it to happen this soon judging by some of the comments in the thread though. There probably won't be a break in the increase in fraud rates because we took so long to upgrade but that's totally different than implying that EMV did nothing for any type of fraud.
I don't think anybody has said that EMV does nothing for any kind of fraud.
What people have said, is that it doesn't change what happens to the consumer that much... or even affect the overall fraud rate... because the fraud moves from card-present to card-not-present purchases.
In the past few months, I've had to get new cards both from in-person and online fraud. The effect on me having to update accounts is the same either way. However, I'm also covered for liability either way. Net change for me: chip card purchases are slower.
If banks really cared about zero fraud, they'd make us all have photo cards that are computer checked against our image, along with thumbprint recognition authenticated by prints registered at the bank itself. But they're far more concerned with keeping us spending.
Now what I think would help, is figuring out an easy way to stop online fraud. E.g. with single-use transaction numbers.
I've had a couple of people tell me that it's no different than magstripe, actually. Perhaps if a PIN was required along with the chip the impression among consumers would be different.
That's because they're morons.
The chip isn't nearly as easy to clone. How are you going to use someone else's card data if you can't clone it? I guess you could go online... But then lies the problem with the billing address.
Not to mention, if a store's systems get hacked, there's only a one time authentication code used, so the information stored on the servers is useless to hackers.
Chip and signature is much, much better in terms of security over what we have, even if I disagree with the way the banks are implementing it--in my opinion, they should be chip and pin.
Not necessarily. From their perspective the only things that changed are that they have to put the card in a different place on the terminal now and that it now takes much longer than swiping. They see lost/stolen fraud being a bigger threat than counterfeiting and wonder why nothing was done about that. Real statistics prove otherwise but humans as a whole have never been all that great at managing risk.
A bit expensive considering they make 2.75 to 3.5% (plus $.15) and fees on each purchase. They gave the small reader for free when you signed up for their service.
I get that this reader is a bit more involved and electronics, so $20 wouldve still been fair.
Not to mention, if a store's systems get hacked, there's only a one time authentication code used, so the information stored on the servers is useless to hackers.
The few businesses that do take chipped transactions need to get off their hineys and take both debit and credit versions. I shouldn't see some woman swipe her chipped debit card while the credit chipped card is prompted to insert into the reader.