Another week, another large retailer accusing Visa of forcing stores to accept debit cards in a way that it is not as secure as it could be — and which will cost the retailer more money to process. [More]
While banks and credit card issuers are slowly rolling out new debit and credit cards containing microchips intended to make them less susceptible to fraud, Home Depot says in a recently filed lawsuit that the two largest card networks have colluded with the banks to produce cards that are not as secure as they should be. [More]
Sure, credit card issuers, including Target, aim to get us all using chip-and-PIN (EMV) credit and debit cards sometime next year. They will make our transactions more secure, and maybe we’ll be less likely to get our digits stolen in a catastrophic data breach. Here’s one question that you may not have thought to ask, though: where do these cards actually come from? [More]
Good news for Americans who like to go to other countries in the world. U.S. Bank is going to roll out EMV chip cards to 20,000 FlexPerks Visa cardholders this month, adding steam to a small but growing push to get traveling Americans credit cards that can work in the “chip and PIN” systems prevalent in Europe and beyond.
Most credit cards in Europe have an embedded PIN chip in them, called an EMV card. Almost no American credit cards do. This causes big problems for Americans traveling in Europe but there are a few ways to minimize the hassle.