| Friday May 27th 2016

USA is stuck in the past with credit card technology, much to the detriment of Americans traveling abroad

This always sounds like something out of Mad Libs:

“USA is stuck in the past with ( noun ), much to the detriment of Americans ( verb ) ( noun )_.

Paris, FranceThe couple’s cards, which rely on magnetic-stripe technology for transactions, lacked an embedded microprocessor chip, which stores and processes data and is now commonly used in Europe. Such chip-based cards — commonly referred to as chip-and-PIN cards because users punch in a personal identification number instead of signing for the purchase — offer an extra layer of protection against the theft of cardholder data and counterfeiting, and they are designed to replace magnetic stripe technology and signature payments.

The chip-and-PIN technology usually isn’t much of an issue when making purchases at a store, or paying for a meal in a restaurant, as most of those merchants still have credit card terminals that can read the magnetic stripes. Likewise, A.T.M.’s typically recognize and accept many cards whether they have a chip or a magnetic stripe.

But American cardholders have had their cards rejected by automated ticket kiosks at train stations, gas pumps, parking garages and other places where there are no cashiers.


Related Posts: On this day...

Leave a Reply

You must be logged in to post a comment.