It is interesting the U>S> gov't is requiring all government cards to be issued with a chip and pin for Gov't use. The banks had a meeting and decided according to news stories that the consumers would not want a pin with their chip. I was floored at their decision. maybe The banks were afraid it would slow down the chechout process/ because the chip dip already does. But if somebody complains as LatenightMike that they want a pin there is no problem getting it if you demand it. They just won't necessarily propose it. Today there were three stories by newspapers talking about how disjointed this entire roll out is and how many years it is going to take to implement. You read right. Years. Many merchants and banks are only doing this because they may be doing it because Europe has done it for ten years and we haven't. Is there pressure from the gov't to at least match the fraud protection the consumers of Europe demand?
For sure there is a disconnect between the transaction people, the banks, the merchants, and the consumer. Most merchants are getting new cards readers not because they think it will help but because the banks are now afraid of the liability issue. It is all about moving the monkey, not protecting the consumer. The closer you look the better Smartmetric looks. We will soon find out who the good banks are and who are the posers. In the next hack we will find out who are the best merchants also. I fear the crooks will target the least protected also. The banks are not our friend. Most of the merchants are trying to do the right thing. Without the pin to go with the chip we are only half protected. Only a minority will have the fingerprint scanner. Unfortunately again time will tell. Is this another Tucker auto all over again? Great technology but too advanced for the public to understand. I hope I amm wrong. It really depends on the consumer and how good Chaya's sales force is. Bilboo out
