Visa, MasterCard renew push for chip cards

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  • Gene Poole SLC, UT
    May 29, 2014 8:31 p.m.

    Almost 30 years ago, I worked with a French group to try to introduce the "smart" card into the US banking system. The excuse was that too much data would be contained on the card and that people would steal the information with a simple reader. Now almost all over the world, we see the ubiquitous smart card. You can't loose data on a chip/smart card and the magnetic strip is really not necessary except for businesses that can not read the chip. In Australia, you can even just wave your card over a reader and your account will charged or debited. Limits are set so accounts can't be drained but it makes it very easy to pay for petrol or a meal or other things -depending upon your set limit. This needs to happen here. Also, if you loose your card, it can be shut off immediately - worldwide by a simple phone call. It's really a step forward.

  • My2Cents Taylorsville, UT
    May 24, 2014 5:11 a.m.

    Checks all over the place? Not at all true. Most people under 45 have never seen a check nor know how to use them. Checks are cash and carry and very safe but business that choose to convert their cash flow to debt flow process them as debit cards and higher fees and losses to cash in the hands.

    Since hacking is never ending threat to debt and debit cards why do the banks and business keeps wasting millions of dollars of their profits on trying to block hackers? There are easy ways eliminate the loses and increase profits and lower overhead cost that hackers cannot invade. It will take concerted effort to break away from this threat to their business and personal security.

    Most secure method is stop taking and processing credit and debit cards in a retail business, but convenience has too big a grip to be concerned about security. Convenience becomes a threat to security every time it is used.

    Then simply making all credit and debit cards for local use only would help and a plausible alternative. International cards should not be issued to consumers nor use of personal information outside thier servie area.

  • Ranch Hand Bountiful, UT
    May 23, 2014 11:27 p.m.

    It's a real pain to travel outside the U.S. without a chipped card.

  • Hutterite American Fork, UT
    May 23, 2014 2:23 p.m.

    My canadian cards have had them for years. Yet here, people are still passing cheques all over the place.