Quote:
Originally Posted by lazycash
Thieves have now figured out how to clone chip cards also, which potentially could stall a planned USA conversion in the next couple of years. http://www.washingtonpost.com/busine...0da_story.html
Obviously if cc companies go forward with the conversion at the end of next year, it would essentially make this coin card obsolete. |
the chip is impossible to copy...the card was force swiped...we get this at my dads bank all the time...they did not copy the chip they swiped the chip card instead of inserting it for chip transactions...there are security measures in place for chip cards but some merchants will force swipe when the chip "does not work"...force swiping is a thing of the past because 100% of the time the merchant will be held accountable and not be payed out or get his card reader revoked by the issuing bank and /or sued...
the biggest mystery in banking, IMO, is why swipe cards are still being used...I used to think it was related to merchants still having outdated POS terminals that accept only swipe and not chip, but I was wrong, in my 3rd world country 95% of POS accepts chip...