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I'm pretty sure the magstripe is already somewhat disabled over here. My debit mastercard refuses to work outside of the European union unless I disable the geo locking in the banking app, and when my chip was broken the readers kept telling me to put the chip in.
So most of my current cards (in Europe) have 3 interaction methods: In order of decreasing readability/communication reliability: 1. Magnetic stripe 2. NFC 3. EMV The EMV ("chip") method is the least insecure, but lately all of my cards have been started oxidating. And it seems like the pogo pins in almost all readers also started wearing out too. Chip reader failures have become very common lately. It's very common…
Honestly curios: where (and when) did you make that observation?
I'll believe it when I see it. I heard signatures were going away years ago and yet I keep getting asked for signatures.
Haven't had to sign anything for 15+ years, newer cards don't even have the space for signatures (Europe/MasterCard). I do have to do the mag-swipe maybe once a year, if the chip reader is acting up (still no signature, it asks for the PIN).
I would rather see MasterCard lower their fees, and take 100% liability for stolen numbers/information.
I'll believe it when I see it. I heard signatures were going away years ago and yet I keep getting asked for signatures.
In the US, the way we do tip on receipt is a lot more natural if you're asking for a signature. Without a signature, you're just handing someone a tip option, which is awkward with our current way of doing things.
Some merchants opt to keep signature enabled because it gives them a fuzzy feeling and it's a point of closure to a transaction.
Why does it take so long? Where’s the bottleneck? Where I lived over the last years (two countries in Europe), I don’t even have to use the physical card. I just use contactless payments with the phone. Prior to that, it was contactless with card. Even ATMs work with contactless (not all, yet). Prior to that, it was chip. I honestly don’t even recall the time when the magnetic stripe was needed. (edit) Think of this:…
So most of my current cards (in Europe) have 3 interaction methods: In order of decreasing readability/communication reliability: 1. Magnetic stripe 2. NFC 3. EMV The EMV ("chip") method is the least insecure, but lately all of my cards have been started oxidating. And it seems like the pogo pins in almost all readers also started wearing out too. Chip reader failures have become very common lately. It's very common…
I can't remember ever having paid using the magnetic stripe in Europe since 2010 (having been to Spain, Italy, France, Netherlands, Romania and living in Germany), before I didn't use a credit card at all since it wasn't very popular here. Honestly curios: where (and when) did you make that observation?
(Sorry, this was unclear from the first iteration of the observation.)
Why does it take so long? Where’s the bottleneck? Where I lived over the last years (two countries in Europe), I don’t even have to use the physical card. I just use contactless payments with the phone. Prior to that, it was contactless with card. Even ATMs work with contactless (not all, yet). Prior to that, it was chip. I honestly don’t even recall the time when the magnetic stripe was needed. (edit) Think of this:…
for when you fly over to the US and need to use your card
I'm pretty sure the magstripe is already somewhat disabled over here. My debit mastercard refuses to work outside of the European union unless I disable the geo locking in the banking app, and when my chip was broken the readers kept telling me to put the chip in.
You can flip it with a writer and use the magnet strip again if you want.
It’s quicker as one doesn’t have to wait for the Javacard OS on the chip to boot up and handshake. (Ie swipe and walk away vs insert, wait 4 seconds, remove).
Wouldn’t do this on my debit card but it’s fine on credit cards with chargeback protection.
So most of my current cards (in Europe) have 3 interaction methods: In order of decreasing readability/communication reliability: 1. Magnetic stripe 2. NFC 3. EMV The EMV ("chip") method is the least insecure, but lately all of my cards have been started oxidating. And it seems like the pogo pins in almost all readers also started wearing out too. Chip reader failures have become very common lately. It's very common…
To echo my other comment: my chip broke on my debit card and the card refused to work with magstripe only (and it was broken in a way were the NFC thing also no longer functioned). So not sure if the magstripe has any functionality in the SEPA region based on that experience.