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Forums » Currency & Credit Cards » U.S. and North Korea: the last holdouts on EMV chips for cards

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PHeymont

U.S. and North Korea: the last holdouts on EMV chips for cards

by PHeymont »

The link below is to a post by Brett King in FINExtra, a payments industry site. He points out that one of the few things uniting the U.S. and North Korea is that they are holdouts on a payment system adopted everywhere else, if not yet fully implemented.

The post is interesting in its discussion of the apparent belief of many U.S. card issuers that it would be possible to go straight from the present system to one that relies mainly on using mobile devices to pay for everything. An unlikely event, I'd say...

http://www.finextra.com/community/FullBlog.aspx?blogid=8261

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yostwl

RE: U.S. and North Korea: the last holdouts on EMV chips for cards

by yostwl »

I don't seem to have much problem paying for things here in the USA.  We use various payment methods--whichever is to our financial advantage depending on the nature of the transaction.

Or abroad for that matter.  We did get the USAA chip and pin card before our trip to Paris this year, and it worked fine.  But we also saw many people still using the old swipe and sign cards with no apparent difficulties--at least no difficulties at locations with human operators.

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kringenwally

RE: U.S. and North Korea: the last holdouts on EMV chips for cards

by kringenwally »

Yes, Bill, you still can get by. Some lucky folks never have a problem.

But when the system balks and leaves you stranded, that's when it gets to be grim. Try to get swiftly into the city from CDG by buying your RER B ticket at the vending machine and you'll know what I mean when the alternative is to stand in line - and most people in that line don't just want to buy a ticket which takes seconds, but want to know where to go and how to get there, in broken French or no French at all, and the poor person who gets paid to sell tickets is in no mood to act as a travel guide and you are in no mood to tolerate the delays...

And when cars pile up behind you at an unmanned autoroute toll booth and the barrier won't budge...

And when the small shop owner can't find the antiquated swipe machine he hasn't had to use in forever, and you don't have cash (bad move anyway...)...

It's time the US banking system came into the 21st century in a hurry.

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pdhenry

RE: U.S. and North Korea: the last holdouts on EMV chips for cards

by pdhenry »

In Response to Re: U.S. and North Korea: the last holdouts on EMV chips for cards:[QUOTE]

And when the small shop owner can't find the antiquated swipe machine he hasn't had to use in forever, and you don't have cash (bad move anyway...)...

Posted by KringenWally[/QUOTE]I get your point but every Point of Sale EMV chip terminal I've seen has a mag strip reader on the side.

 

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PHeymont

RE: U.S. and North Korea: the last holdouts on EMV chips for cards

by PHeymont »

True the swipe reader is built in, but outside cities, not every clerk knows how to use it! And, of course, there's still the issue of the unmanned points of sale.

Over and over: it's not that you can mostly get by and only seldom have a problem, it's that you shouldn't be put in that position at all by a U.S. banking industry that has resisted and resisted, in part because they tried to bet the farm on contactless and RFID.

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yostwl

RE: U.S. and North Korea: the last holdouts on EMV chips for cards

by yostwl »

Just to be clear--I'm all for the US moving entirely to the "new" system.  I was only pointing out that people can still get by with the old swipe and sign cards most of the time.

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pdhenry

RE: U.S. and North Korea: the last holdouts on EMV chips for cards

by pdhenry »

I ate at one restaurant on Germany that could only accept a Chip card (they had an iPad based system that only had a chip reader as far as I could tell) and the ticket machine for the Swiss railway would have accepted my mag strip card but needed a PIN which I didn't jappen to know.
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