251–260 of 720 posts
SUPER clever idea -- kudos for that. In theory, this is awesome. As a consumer, I love it. As a merchant, however (which I am), there is no chance I would accept this. None. Unless the issuers (that is, Visa, MC, Amex) drastically change their policies, which I don't see happening anytime soon. Why? Because the issuers are very clear about a few things: When push comes to shove and it REALLY gets down to it, unless t…
Earlier quoted context omitted.
From the FAQ: Q. Does Coin support chip and pin (EMV)? A. Coin is currently designed for the U.S. market and does not support chip and pin (EMV), however, future generations of the device will include EMV.
How on earth is that going to work? Theoretically at least, you can't clone an EMV card. That's kind of the point.
Unfortunately cross-bank and cross-scheme cooperation has never been there to the extent that this has been possible so far.
Earlier quoted context omitted.
BTLE tether, card gets deactivated if its not near your phone.
Does deactivated mean erased? From what I understand...there is some sort of memory chip on the card that stores the credit card numbers and info for every card, right? So what is to stop some chip from bypassing the OS that manages the multiple cards and just reads the raw data? Sure, it may be 128-bit encrypted, but if they have the raw dump - then it's just a matter of brute forcing it to eventually crack it...no?…
SUPER clever idea -- kudos for that. In theory, this is awesome. As a consumer, I love it. As a merchant, however (which I am), there is no chance I would accept this. None. Unless the issuers (that is, Visa, MC, Amex) drastically change their policies, which I don't see happening anytime soon. Why? Because the issuers are very clear about a few things: When push comes to shove and it REALLY gets down to it, unless t…
I don't know why the US hasn't adopted EMV. It's not perfect, but it has cut down fraud massively here in Europe. They're very hard to clone (I won't say impossible, but attacks against EMV have not generally been of this nature) and the transaction records at both ends will tell you whether the actual, real card was there. The liability is more clear-cut as a result. If the customer claims the charge was unauthorise…
Mainly because it would make my trips to Europe a lot easier, where many systems I've encountered won't work on some non-EMV cards.
I'm not sure of the prevalence in the US, but does this support chip + pin transactions? They're the standard in the UK now, and I suspect it's a little harder to mess around with than the magnetic strip.
I understand chip+pin is still a novelty in the US. Back in 2009, I was (apparently) the first person to use the chip+pin machine in one of the biggest bookstores in Toronto - the cashiers got excited and all gathered round to watch. It was a little bit bizarre.
I only understood that after a week and maybe ten or so places had told me "your card doesn't work", when some hotel tenant called her daughter to translate things, and she knew about chip and pin and was excited to see how it worked.
I'm pretty sure all the other places just saw some message they didn't really understand, and just thought "the card doesn't work", when in fact they probably just had a pad somewhere that was waiting for my input.
Just before that, we had stayed in Taiwan and used the same card pretty much everywhere with absolutely no problem.
Can anyone elaborate how the magstripe trick works? That's the only thing that I can't find, and it's kind of the crucial point of the whole project.
SUPER clever idea -- kudos for that. In theory, this is awesome. As a consumer, I love it. As a merchant, however (which I am), there is no chance I would accept this. None. Unless the issuers (that is, Visa, MC, Amex) drastically change their policies, which I don't see happening anytime soon. Why? Because the issuers are very clear about a few things: When push comes to shove and it REALLY gets down to it, unless t…
For most self-swipe checkouts, it seems like this card would work well (coffee shop, grocery store, etc). But, it isn't too uncommon to have a merchant request to see the card, and some larger retailers (e.g., Lowes) have to input numbers off the front of the card, as well.
Unless I'm missing something: if I lose my Coin card, ALL of my credit and debit cards are compromised. That's a showstopper. A thief could drain not just one account, but every account I have.
SUPER clever idea -- kudos for that. In theory, this is awesome. As a consumer, I love it. As a merchant, however (which I am), there is no chance I would accept this. None. Unless the issuers (that is, Visa, MC, Amex) drastically change their policies, which I don't see happening anytime soon. Why? Because the issuers are very clear about a few things: When push comes to shove and it REALLY gets down to it, unless t…