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Comment Re:No.... (Score 1) 317

Retailers are remarkably resistant to chip & PIN in the US, out of a (probably misguided) perception that consumers will be resistant. Merchant services are very, very practical, and are not going to shut down their bread and butter over the issue.

US banks have extremely sophisticated algorithms to spot fraudulent transactions (which is why we're a decade behind Europe on this), and those won't be going away. Fraud rates are about 1/10th of 1 percent overall, which isn't exactly the end of the world to begin with.

Comment Re:No.... (Score 2) 317

Actually, cardholder rights aren't changing, and aren't technical, they're legal. No changes there at all.

If everybody follows the rules, either the merchant service or the issuing bank eat the loss. Same as it's always been.

Now adjust your tin foil hat. It's slipping down over your eyes.

Comment Re: None of my cards have a chip! (Score 1) 317

No more a disaster than the last few years have been. Very few POS software vendors are actually ready, and at least some have delayed releasing EMV packages because of it. They'd be fools to release software that isn't ready just as the holiday shopping season starts, and the retailers would be fools to accept it.

So things continue the way they have, with the liability for that 1/10th of 1% of transactions that are fraudulent (or, more likely, half that, unless you sell consumer electronics) shifting, in some cases, to the merchant instead of the banks.

Comment Re:None of my cards have a chip! (Score 4, Informative) 317

You've clearly never worked in retail. There are rules. If the merchant follows the rules, they are protected, and either the merchant service or the issuing bank eats the loss.

(Online companies, mail order companies, and other "card no present" merchants cannot follow the rules, so, yeah, they're hosed.)

EMV means the rules are changing, and they're more complicated, but if the car has no chip, the old rules still apply, and the merchant is protected if they follow the rules.

Comment Re:None of my cards have a chip! (Score 1) 317

The specs not only allow but require that merchants still be able to process mag strip only cards. If your card doesn't have a chip, they'll still accept it.

Only 70% of credit cards (and 25% of debit cards) in the US will be chip cards by the end of this year. Banks do not like losing money. It'll be a decade or more before mag strips are no longer usable.

Comment Wait, what? (Score 1) 31

"Oh my! An `inflammatory attitude' in alt.flame? Never heard of such a thing..." -- Allen Gwinn, allen@sulaco.Sigma.COM