If you’ve received a shiny new chip-enabled card from your bank or credit card company in recent months, then you’ve probably been through this at least once. You see that a store has the slot for your card, so you assume that the store actually accepts them. Silly shopper! The terminal tells you to swipe the magnetic stripe instead. [More]
smart cards
Credit Card Processors Aren’t Buying Netflix’s EMV Shift Excuse
By 10.16.15
When Netflix announced its quarterly results this week, they had an explanation for why their new subscriber number fell short of their projections. The shift to smart-chip (or EMV) payment cards means that the service lost some subscribers while customers received new card numbers and forgot to change them over. That’s a good story, but people in the banking business have some issues with it. [More]
Visa Will Incentivize Stores To Install Smart Card Terminals
By 9.19.11
We could start to see “smart cards” — credit cards embedded with a PIN-encoded chip instead of just a magnetic strip — take hold in America next year due to a big move by Visa. They are offering some very enticing financial incentives to stores to get them to install point of sale terminals that can read smart cards. [More]
