The chip card transition in the US has been a disaster
They're confusing to use, painstakingly slow, and aren't even the best solution for consumers. And banks had every chance to do it right.
Hasnain says:
"Critics have told me that banks opted for a signature versus a PIN code because it saves them large amounts of money by not having to store PIN codes for everyone. Banks, on the other hand, say they feared that their customers would have a difficult time remembering a four digit code. (This, despite millions of people already using check cards and other access cards with PIN codes.)"
Posted on 2016-07-31T16:17:46+0000