As soon as new chip-enabled or EMV cards were rolled out by credit companies late last year, the FTC issued an urgent warning. Con artists were taking advantage of the debut of chip cards to impersonate card issuers and request the confidential personal and financial information of consumers. At the...
October 1, 2015 marked the deadline for merchants and banks to make the switch to computer chip-enabled credit cards, also known as EMV cards. Now retailers – not card issuing banks – are liable for in-store fraudulent purchases. That sounds great on the surface, but unfortunately it’s proving a half-baked solution...
While the U.S. continues to transition to chip-enabled credit cards, consumers may have questions about how using their plastic will change. The biggest confusion seems to be if chip-enabled credit cards will be accepted the same as EMV cards when traveling abroad, and if they will need a PIN to...
With so-called EMV or chip-enabled credit cards replacing older magnetic stripe plastic across the U.S., foodies and others accustomed to leaving a tip may encounter some puzzling problems. That’s because the way EMV cards are processed for payment is slightly different than what consumers are accustomed to, and as a...
As the October 2015 deadline quickly approaches for the shift from magnetic strip cards to the new chip-enabled cards, there is some confusion about how the transition will affect consumers. The biggest question seems to be if chip-enabled credit cards will be accepted the same as EMV (Europay, MasterCard, Visa)...
Three U.S. financial institutions recently reported that they were flooded with fraudulent credit and debit card transactions. What was particularly strange was that this happened despite the fact that the charges were attributed to the newer, more innovative, and much more secure, chip-enabled cards. Although the charges showed up as coming...
When I travel overseas, I notice a whole other world of credit card use. Customers dip their smart chip enabled credit cards into machines, and enter a PIN number, instead of swiping the magnetic strip and signing. Restaurants bring wireless card readers to diner's tables, where cardholders perform their own...
The relatively new innovation of pin and chip credit card technology is finally coming to America, even though it was introduced to the majority of the rest of the world several years ago. The banking industry in the U.S. has been slow to invest in the technology, mainly because bankers...
The summer season is coming up and that means one thing: vacations! Whether it's a family vacation to see relatives in Europe or cruise through the Caribbean with friends, chances are you'll be trekking the world in one way or another. Along your ventures, you'll have to pay for something,...
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