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Death Hovers Politely For Americans' Swipe-and-Sign Credit Cards 731

schwit1 writes "U.S. banks and merchants are shifting to a more secure way of authorizing credit card transactions in which customers will enter a personal identification number (PIN) at checkout instead of signing a receipt. The US is the last major market in the world using the signature system, which is part of the reason why a disproportionate amount of credit card fraud happens here. The change is especially relevant given the massive fraud perpetrated against customers of Target in the fall. During a Congressional hearing last week, Target CFO John Mulligan said the company is accelerating the $100 million effort to switch to the so-called "chip and pin" system. The change won't happen all at once. Banks must issue cards with microprocessors and merchants need the right equipment to process the chip and PIN transactions, which is likely to happen gradually. But Visa, American Express, and MasterCard have announced that banks and merchants that have not adopted the technology for face-to-face transactions by October 2015 will be liable for fraudulent purchases. That's a strong incentive to get up to date. The new system will also prepare merchants and banks to transition to contactless payments in the near future."

Comment Re:It works (Score 1) 1215

You know, sometimes, people really are paranoid and really nobody is out to get them.

And GP lists everything that is correct for majority of people who grew with him reading slashdot and evagelizing free software. I love FSF and have always believed in what RMS says (I even supported GPL 3 when Linus lambasted it). But until that vision becomes reality, for which I work on weekends and on nights, I still need the food on my table - for me and my family! And for that I need to work. And guess what? Windows 7 gets work done.

Yeah, and moderators can mark me down. I post as AC generally anyway. This post is under my user-id so you KNOW that am a real person in a different country and a different culture with same experience as GP.

Comment Re:Just like snipe hunting (Score 3, Insightful) 366

GP is part of the problem. For people like him/her, it is not about good code or bad code, it is about 'my way or the highway'.

Calling someone "factory factory factory guy" without any basis is how you get mod points on Slashdot without being correct. For all one knows the submitter might be exact opposite.

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