What Is a Chip-and-PIN Credit Card?

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maxwellmelon

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so basicly they have to ad cost to a card to do what an atm card does by just requiring a pin to be typed in instead of signing. so stupid. why not just allow the quick swiping and use a 6 digit pin.
 

bschwarz

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The main part of this article, the claim that the U.S. is moving to Chip and Pin, is incorrect. The U.S. is indeed in the process of deploying EMV payment systems, but that system is based on Chip and Signature and not Chip and Pin as in Europe. To the consumer, the systems are similar but there is no required PIN with Chip and Signature. Almost all U.S. based EMV cards on the market are Chip and Signature, do not include an embedded PIN, and will not work in most unmanned point-of-sale kiosks in Europe. It is unlikely that this will change moving forward as the EMV systems are deployed in the U.S.
 

bschwarz

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so basicly they have to ad cost to a card to do what an atm card does by just requiring a pin to be typed in instead of signing. so stupid. why not just allow the quick swiping and use a 6 digit pin.
The difference is that with Chip and PIN the PIN is tied to the card. In an ATM transaction, the payment network verifies the PIN against the account information stored on the magnetic strip. Chip and PIN authentication can work without being connected to a payment network.
 

Someone Somewhere

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We've had these for several years in NZ. Generally they still have a magnetic stripe, but it's flagged in the card vendor's system and can't be used without essentially calling them up.The main difference is that these are unclonable. You can't make a copy just with ATM skimmers or similar, because the card has a secret key that it doesn't give out.Main issue with them is that they're a little slow to read.PINs are basically essential here, but I'm not sure whether it's on the payment provider's system or on the card.
 

chicofehr

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I had no idea the US didn't use this yet. Here in Canada we started using it years ago too. I guess the US is behind on a few things. We will have NFC way before them too I am sure but most of Europe already uses their cell phones to pay for stuff I believe.
 

liquid0h

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The main part of this article, the claim that the U.S. is moving to Chip and Pin, is incorrect. The U.S. is indeed in the process of deploying EMV payment systems, but that system is based on Chip and Signature and not Chip and Pin as in Europe. To the consumer, the systems are similar but there is no required PIN with Chip and Signature. Almost all U.S. based EMV cards on the market are Chip and Signature, do not include an embedded PIN, and will not work in most unmanned point-of-sale kiosks in Europe. It is unlikely that this will change moving forward as the EMV systems are deployed in the U.S.
Man, that's gonna suck for people like me who have an American bank but I live in England. I'm sure there's gonna be a way for Americans to use their cards in Europe. How else would you do transactions if your visiting abroad?
 

liquid0h

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The main part of this article, the claim that the U.S. is moving to Chip and Pin, is incorrect. The U.S. is indeed in the process of deploying EMV payment systems, but that system is based on Chip and Signature and not Chip and Pin as in Europe. To the consumer, the systems are similar but there is no required PIN with Chip and Signature. Almost all U.S. based EMV cards on the market are Chip and Signature, do not include an embedded PIN, and will not work in most unmanned point-of-sale kiosks in Europe. It is unlikely that this will change moving forward as the EMV systems are deployed in the U.S.
Man, that's gonna suck for people like me who have an American bank but I live in England. I'm sure there's gonna be a way for Americans to use their cards in Europe. How else would you do transactions if your visiting abroad?
 

ammerique

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Mar 7, 2014
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The main part of this article, the claim that the U.S. is moving to Chip and Pin, is incorrect. The U.S. is indeed in the process of deploying EMV payment systems, but that system is based on Chip and Signature and not Chip and Pin as in Europe. To the consumer, the systems are similar but there is no required PIN with Chip and Signature. Almost all U.S. based EMV cards on the market are Chip and Signature, do not include an embedded PIN, and will not work in most unmanned point-of-sale kiosks in Europe. It is unlikely that this will change moving forward as the EMV systems are deployed in the U.S.
Man, that's gonna suck for people like me who have an American bank but I live in England. I'm sure there's gonna be a way for Americans to use their cards in Europe. How else would you do transactions if your visiting abroad?
I used ATMs a lot to take out money when I was in Ireland. Very few merchants would take the magnetic strip card as a credit card but some places would allow me to use it as a Debit card.
 

lightspeed11

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QUOTE:
The main part of this article, the claim that the U.S. is moving to Chip and Pin, is incorrect. The U.S. is indeed in the process of deploying EMV payment systems, but that system is based on Chip and Signature and not Chip and Pin as in Europe. To the consumer, the systems are similar but there is no required PIN with Chip and Signature. Almost all U.S. based EMV cards on the market are Chip and Signature, do not include an embedded PIN, and will not work in most unmanned point-of-sale kiosks in Europe. It is unlikely that this will change moving forward as the EMV systems are deployed in the U.S.
 

rgd1101

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Moderator


You do know it from Jan 2014, the info are outdated.
 
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