Earlier quoted context omitted.
Their loss really.
Their loss of possibly getting chargebacked? Seems like a benefit.
No, their loss of the sale, obviously.
Coin
691–700 of 720 posts
Re: Coin
#692Anybody else feeling uneasy about committing to spending serious cash immediately for a scheduled delivery 7-10 months away for something that could have many legal ramifications (with the associated delays)? At $50/card, with anywhere from 5 to 15 cards, it quickly adds up...
It's 50$ for a coin card, not each credit card you have.
Re: Coin
#693Earlier quoted context omitted.
> No one imprints anymore. that's not true at all; have you been outside of any major city in america?
As an avid road fan, I've been in 47 out of 50 states (no Hawaii, Alaska or Vermont) and roadtriped around 50.000 miles, in the course of 7 years. I've stayed in hundrends of small cities, from Ogalala, NE to Ozona, TX and Oatman, AZ, and used my credit cards for all kinds of purchases, from Kroger and CVS, to outlet stores, gas, local shops, small eateries, fast food places, restaurants etc. Never had a vendor inpri…
I have at least a dozen in the past 6 months from Taxi/limos in various US states and Canadian provinces, and a couple from road diners.
Re: Coin
#694Earlier quoted context omitted.
>> (not that it is that much harder with chips, see yescards). Never heard of that before, interesting. I used programmable test cards when doing EMV and did wonder what would happen if I made such a card but (as the wikipedia page says) they're of very limited utility as they don't have the right keys to do anything but low-value offline transactions. Cloning chip cards is still pretty hard, IMHO, though that is int…
When Serge Humpich, a french engineer, found the vulnerability the yes card is based on at the end of the 1990's, he got in touch with the GIE in charge of european bank cards to warn them and propose a fix in hope of landing a job. They asked him for proof, as an engineer he gave them proof by buying metro tickets and sending them the tickets, the receipt and the card used to exploit the vulnerability. The GIE CB th…
I have my doubts it was anywhere close to that amount as it would work only in very specific circumstances.
The mag stripe thing is a weakness in mag stripes. The effectiveness of EMV is amply demonstrated by the fact that the numbers had to be sent to othe countries to be useful.
And yes cards in an ATM? The ATM software was not up to the standards that are required by the banks for third parties then. Implementation bugs, nothing more.
Re: Coin
#695Earlier quoted context omitted.
I think here in the UK there was a multi-year phase in. Started with the banks own ATMs, then the machines that smaller businesses loan from banks to take payments, then (when there were enough commercial offerings available) there was a sort of forced date for merchants to make the switch (or take more liability, that was the choice). I think it took at least 5 years. So yeah, non-trivial. And if (as it sounds like)…
According to Wikipedia, in the UK it took less than 2 years to go from initial trial in 2003 to liability shift in 2005. "Chip and PIN was trialled in Northampton, England from May 2003, and as a result was rolled out nationwide in the United Kingdom in 2004 with advertisements in the press and national television touting the "Safety in Numbers" slogan. During the first stages of deployment, if a fraudulent magnetic…
EMV cards had been distributed to customers since the late 90s.
I would guess the banks had been rolling out EMV capable ATMs well before 2003. Retail level EMV may have taken two years from trial to liability swith. Infrastructure changes would have pre-dated that by years.
I know EMV cards had been distributed to customers since the late 90s because I used to use mine for testing while I developed the software I wrote that ran several of the retailer systems in that Northampton trial :)
Re: Coin
#696Earlier quoted context omitted.
As an avid road fan, I've been in 47 out of 50 states (no Hawaii, Alaska or Vermont) and roadtriped around 50.000 miles, in the course of 7 years. I've stayed in hundrends of small cities, from Ogalala, NE to Ozona, TX and Oatman, AZ, and used my credit cards for all kinds of purchases, from Kroger and CVS, to outlet stores, gas, local shops, small eateries, fast food places, restaurants etc. Never had a vendor inpri…
Have you never been in a cab in a major city?
Had my own car for the trips, but have used cabs for convenience in Chicago and NY. I usually pay cabs in cash though (probably because I never think of cabs as accepting cards, thinking by my country's norms).
Re: Coin
#697Earlier quoted context omitted.
In Australia, we've even moved beyond EMV; the majority of merchants now accept Visa PayWave and MasterCard PayPass for tap-and-go. [edit: Oh, and all my debit/credit cards are now paywave/paypass enabled, and they are all from the big 4/5 banks] The Coin page doesn't mention this at all; does it have this? If not, it sounds like a step backwards.
I was thinking the same thing. A full 60% of MasterCard and Visa transaction are now paywave/paypass. That's pretty impressive uptake, and I'd imagine it will be just as quick one introduced en-mass overseas. Would love to know Coin's development path for this eventuality! "Australia leads the world in contactless payments, which have grown from almost zero three years ago to more than 35 million transactions a month…
I don't think they have a path for this. Getting the bank to hand over the keys needed will be next to impossible.
Re: Coin
#698Earlier quoted context omitted.
Technically, the card isn't valid unless signed. Most credit card companies prohibit the "See ID" that some people put on their cards in place a of a signature.
I dont sign my cards ever, why would I want a thief to see what my signature looks like?
Great. That way they can just sign it themselves. That way if a merchant does signature verification, it matches! And then when your CC company comes back and says "Chargeback is in dispute. The signature matches" you'll have to explain why you didn't follow the terms of the cardmember agreement.
Now, this is all very hypothetical for many reasons, but generally it's my practice to follow cardmember agreements that I am, after all, agreeing to follow.
Re: Coin
#699Earlier quoted context omitted.
Very interesting, thanks for sharing. You hit on something though; in the U.S. there are tens of thousands of ATM machines all over. They all accept PIN numbers, and I "believe" magnetic-strip as well (not sure if they're doing fancy stuff too with built-in chips or not). It's the standard that everyone uses; debit card and credit cards alike. To change that to support different tech, you'd have to upgrade all of the…
"Everywhere" else in the world has managed - the combined population of countries that have deployed EMV / chip and pin is vastly higher than the US. And it is coming to the US too, in some form or other: Pretty much all the major banks have committed to introduce it (though in some cases chip + signature) by mid 2015.
Right but it's not monolithic. States in the US are not meaningful borders economically speaking. So you can't just do one state at a time, or one region.
I'm not saying the US isn't behind the times, but where else has a singular rollout of tech like this been done on a US scale?
Re: Coin
#700Earlier quoted context omitted.
Chase Sapphire Preferred offers EMV cards[0] and no foriegn exchange charges. Makes a good travel card. [0] Technically: chip-and-signature rather then chip-and-pin. Also, you have to ask for the EMV but they're super friendly about it.
Bank of America has a similar one too, and it doesn't have a yearly fee.
While I don't have that Chase card, I do know very well that most BofA branded cards have far less lucrative rewards than many of their competitors. FIA has a few great cards and they're owned by BofA. But even when I became a so-called "platinum privileges" bofa customer their best card was not very attractive.
Flat 2% cashback cards are great. Rotating 5% category cards a great. Big signup bonuses are great.
I have a Chase British Air card I opened with a 100,000 mile bonus, plus a companion pass once a certain spending level was reached. Long story shorter, we opened two (one for me, one for my wife). Pooled the miles together. We have 220k miles and a companion pass. We're using this for 2 first class tickets from SFO to Europe in the spring. That is, literally, $25,000 in airfare.
Oh, and it's chip + sig :)
tl;dr Often annual fees are very worth it. And also often, an issuer will waive them in all or part.