Quote:
Originally Posted by gary
Hi Doug,
There is nothing "smart" about the smart-chips in credit cards.
If you show someone both sides of a credit card for 15 seconds without them even physically touching it, they can easily debit it to its full limit.
|
True Gary, chip/pin doesn't solve card-not-present fraud. It does largely stop card-present fraud.
How are all the traveling yanks with their no-chip cards going to cope when countries stop accepting signature, as Australia is supposed to be doing this year. I've already seen them having problems in Europe.