The National Retail Federation has called on American banks to follow the lead of JPMorgan Chase and move to chip and PIN credit cards, rather than chip and signature.
A very positive development - chip and PIN has got to be the only sensible way forward.
As others debate on PIN versus Signature, the regulator in India has mandated PIN + Signature since December 2013. The tighter security will definitely bring down card fraud. Going by initial experience, the greater friction will also bring down card transactions.
I made two payments today by cash that I've been making by credit card for the past 10 years. Reason? The merchants in question - MNO and satellite TV provider - couldn't get their POS machines to accept PIN, so they refused to accept credit / debit cards
Nick, you are so right. Once again it is the retailers in the USA leading the way and promoting the only logical way to introduce Chip Cards.
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