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.
Excellent Basic, OTE and BenefitsLondon
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