Chip Credit Cards Give Retailers Another Grievance Against Banks from the New York Times

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Chip & Sign is stupid. And while chip is slightly slower, having the PIN entered means you don't have to wait for a signature. When it pops out of the terminal, it's done. No checking the signature either. And a lot more security.
Of course, this is only my experience... since we haven't had to sign on a dotted line in 2 years. And so much easier as a merchant. No pen needed. Just hand the customer the pinpad and voila... done!
 
How many chip and pin cards have we seen? 2 from the US. 2 from Europe. Half of them didn't work and had to be either hand entered (bigger chunk for the processor) or the guest paid cash.
Id agree with the assessment that less than 20% of cards have chips.
 
I'm with Generic on this one. So fast and easy north of the 50. Even my European cards go through no problem. American ones--still signing. We're so used to the speed of the PIN that you can almost get a little impatient if it isn't instantaneous and you have to wait that extra millisecond for approval.
 
I've visited Europe and enjoyed seeing the puzzled look on the waiter's face when my card has to be swiped and signed for. They always have an "ah ha" moment when they realize it doesn't have a chip. How quaint, they think.
 
Morticia said:
How many chip and pin cards have we seen? 2 from the US. 2 from Europe. Half of them didn't work and had to be either hand entered (bigger chunk for the processor) or the guest paid cash.
Id agree with the assessment that less than 20% of cards have chips..
Click to expand...
All but one of my bank credit cards have a chip now (Dis cover).
 
We hardly use credit cards in the Netherlands, almost all shopping is direct debit, always PIN, since 1990 (25 years..). Credit cards (including amex) have had chip and pin since 2005, since 2009 no one uses signatures.
We are now going to contactless paying, keep your card or phone close to a terminal, give OK and you are done. No swipe, no dip. You only need to PIN for larger amounts (you can set your own limit).
Major payments are mostly with direct banktransfer, when both parties have the same bank it takes seconds, and in 3 years all money transfers between all banks /companies/persons should take seconds.
 
Bommelhoeve said:
We hardly use credit cards in the Netherlands, almost all shopping is direct debit, always PIN, since 1990 (25 years..). Credit cards (including amex) have had chip and pin since 2005, since 2009 no one uses signatures.
We are now going to contactless paying, keep your card or phone close to a terminal, give OK and you are done. No swipe, no dip. You only need to PIN for larger amounts (you can set your own limit).
Major payments are mostly with direct banktransfer, when both parties have the same bank it takes seconds, and in 3 years all money transfers between all banks /companies/persons should take seconds..
Click to expand...
Here the limit for contactless is $100. I have it, but I hardly ever see a charge that small.
 
All uk (credit/amex and debit) have been chip and pin for about 5 years
We have contactless but its about a $40 limit - no good for me but the cafe's like it as its very fast if you have a big queue its in and out fast.
 
All uk (credit/amex and debit) have been chip and pin for about 5 years
We have contactless but its about a $40 limit - no good for me but the cafe's like it as its very fast if you have a big queue its in and out fast.
 

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