A Finextra member 01 November, 2012, 10:06 0 likes

My friend asked some interesting questions: how many ATMs can accept diamond-encrusted cards? What happens if you enter PIN incorrectly three times? If your card get skimmed, do you get a brand new one or the old one is smelted and recast? Questions, questions :)

A Finextra member 01 November, 2012, 10:37 0 likes

The ATM question was related to C&P-enabled ATMs - they still need a card to be fully inserted.

A Finextra member 01 November, 2012, 11:30 0 likes

As it says in the article - it doesn't have a Magnetic Stripe - so it cannot be skimmed.

Not having a magnetic stripe also means it probably will not be usable in ATMs (as the article suggests) - as most ATMs check for the presence of a Mag Stripe to confirm it is a usable card (unless as Part of the V-PAY Roll out ATMs have been upgraded to bi-pass this check).

A Finextra member 01 November, 2012, 11:40 0 likes

C&P card can be compromised during an online transaction - that could require the card to be replaced.

There are indeed ATMs which do not require mag stripe - that what I was referring to.

A Finextra member 01 November, 2012, 11:45 0 likes

Are you suggesting that someone is going to clone the chip?  I'm assuming these guys will be using DDA or CDA Chips (not SDA)...

There doesn't appear to be a PAN Embossed on the Card which would leave me to believe the Issuer is smart enough not to Authorise PKE, MOTO or e-Commerce Transactions for this Cardtype.

What type of compromise did you have in mind?

A Finextra member 01 November, 2012, 12:07 0 likes

You use your gold-diamond card to buy something on the Internet. Card details are stolen and a trivial "plain vanila" mag stripe clone is created and used in the USA. Will you continue using your C&P card or get a new one?

A Finextra member 01 November, 2012, 12:08 0 likes

Without an embossed PAN you are really going to struggle to use it for e-commerce...

A Finextra member 01 November, 2012, 12:15 0 likes

Hm, good point. Does it mean I don't even get to know my card number? If I do, I can use it online too.

Jan-Olof Brunila - Swedbank - Stockholm 02 November, 2012, 07:25 0 likes

What about ESD - electro static discharge - gold is a very conductive material?  In the dry and cold winter climate in that country there could be issues of ESD with a gold card and ESD is known to damage payment terminals.

A Finextra member 02 November, 2012, 08:11 0 likes

Something gives me the impression that the owners of these cards won't be doing much in the way of grocery shopping themselves.... So the lack of a mag stripe might not be the issue it is for you and I. (I say "you", but you may be one of these card holders, so please accept my apologies for lumping you in with the rest of us)

I'm sure the shops they choose to shop in will do what it takes to ensure that their purchases are made as easy as possible.

Some quite funny scenarios in the previous comments about ATMs though. Not sure I can see the guy outside the pub on Friday trying to get money out for a taxi home, can you!