61–70 of 116 posts
I'm quite surprised by the blasé attitude the US has to card security. The lack of chip and pin still surprises me. I'm surprised a lot of the bigger retail companies haven't put pressure on the banks to bring this in.
Chip and PIN is scheduled for 2015. http://www.forbes.com/fdc/welcome_mjx.shtml
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In my experience, Stripe won't do anything like that. I manage a website that accepts donations. This tends to be a target that fraudsters like to utilize. They'll "donate" small amounts to the non-profit in order to check if the transaction went through. If the transaction was approved, they know the card is still valid. Meanwhile, we're stuck with the fraudulent transaction and have to refund the charge. Now, these…
If you can "100% detect the fraudulent transactions from real ones" why don't you refuse to send the details to Stripe.
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I wish they would deny merchant accounts to merchants too cheap/lazy to roll out contactless payments alongside chip and pin. There's nothing more stupid and frustrating than holding up the line doing chip and pin to buy a $5 meal at Subway.
Where are you from? Around here (Southern California) every card reading machine defaults to debit transactions, where you have to enter your PIN anyway. At least when you do credit cards you don't have to sign them for small purchases any more (less than $50 at Home Depot, for instance). I really can't say I've ever felt frustrated waiting for the person ahead of me to pay (except for maybe old people hand writing c…
Debit or credit? Debit is the default everywhere. Why? Because credit has a surcharge for the merchant.
It is complete bullshit that the merchants put the onus on their customers and then shrug their shoulders when fraud happens. At least with credit you are insured. They get your pin and you are screwed.
I'm quite surprised by the blasé attitude the US has to card security. The lack of chip and pin still surprises me. I'm surprised a lot of the bigger retail companies haven't put pressure on the banks to bring this in.
99% correlation sounds high, but I wonder what the correlation is with other stores, and with what statistical confidence you can actually conclude that Home Depot was the victim here...
I'm quite surprised by the blasé attitude the US has to card security. The lack of chip and pin still surprises me. I'm surprised a lot of the bigger retail companies haven't put pressure on the banks to bring this in.
Chip and PIN is scheduled for 2015. http://www.forbes.com/fdc/welcome_mjx.shtml
http://www.flyertalk.com/forum/credit-card-programs/1304271-...
https://docs.google.com/spreadsheet/lv?key=0Ani-u3tGk5hedGRv...
Edit: clarifying - what I meant was that the US EMV cards will be chip and sig, not chip and pin. Most US cards are obviously still mag stripe. I'm traveling to Europe later this year so I was looking into the CC issues, and as a US traveler not being able to get an EMV card with pin priority is annoying.
Edit 2: jvm, not sure what you meant to link to, but that link just goes to the Forbes splash advert.
99% correlation sounds high, but I wonder what the correlation is with other stores, and with what statistical confidence you can actually conclude that Home Depot was the victim here...
It was a 99.4% overlap in zip codes listed for sale and zip codes listed as having a HD storefront. I think you might want to reread that section.
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It was a 99.4% overlap in zip codes listed for sale and zip codes listed as having a HD storefront. I think you might want to reread that section.
Yes but what's the correlation like for other common stores? I've lived in a lot of different towns in the US and every single on of them has had a Home Depot in town. They've also all had a Target. I'd be curious to know what that correlation looked like.
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Its not a blase attitude. Its a chicken and egg situation. The credit card companies want to implement it but they need the stores to upgrade their point of sale hardware to accept the new cards. Stores say they won't upgrade their hardware til card companies release the cards
That's not close to being a chicken and egg. The card companies just have to release the cards, then up the fees for using it without chip & pin. What's the point of buying the POS systems when no-one can use it and there's no guarantee the cards will be rolled out? It happened very rapidly here in Britain once the cards were out.
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Its not a blase attitude. Its a chicken and egg situation. The credit card companies want to implement it but they need the stores to upgrade their point of sale hardware to accept the new cards. Stores say they won't upgrade their hardware til card companies release the cards
How is that? I have a Chip+PIN enabled credit card and if the shop doesn't support that I can still swipe the magnetic stripe. I don't see why they don't just provide credit cards with both options for a while until enough of the PoS hardware has been upgraded that they can get rid of the magnetic stripe. I guess cost plays a role, but I would assume that the decrease in fraud might offset that somewhat.