My canadian cards have had them for years. Yet here, people are still passing
cheques all over the place.
It's a real pain to travel outside the U.S. without a chipped card.
Checks all over the place? Not at all true. Most people under 45 have never seen
a check nor know how to use them. Checks are cash and carry and very safe but
business that choose to convert their cash flow to debt flow process them as
debit cards and higher fees and losses to cash in the hands.Since
hacking is never ending threat to debt and debit cards why do the banks and
business keeps wasting millions of dollars of their profits on trying to block
hackers? There are easy ways eliminate the loses and increase profits and lower
overhead cost that hackers cannot invade. It will take concerted effort to break
away from this threat to their business and personal security.Most
secure method is stop taking and processing credit and debit cards in a retail
business, but convenience has too big a grip to be concerned about security.
Convenience becomes a threat to security every time it is used.Then
simply making all credit and debit cards for local use only would help and a
plausible alternative. International cards should not be issued to consumers nor
use of personal information outside thier servie area.
Almost 30 years ago, I worked with a French group to try to introduce the
"smart" card into the US banking system. The excuse was that too much
data would be contained on the card and that people would steal the information
with a simple reader. Now almost all over the world, we see the ubiquitous smart
card. You can't loose data on a chip/smart card and the magnetic strip is
really not necessary except for businesses that can not read the chip. In
Australia, you can even just wave your card over a reader and your account will
charged or debited. Limits are set so accounts can't be drained but it
makes it very easy to pay for petrol or a meal or other things -depending upon
your set limit. This needs to happen here. Also, if you loose your card, it can
be shut off immediately - worldwide by a simple phone call. It's really a