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Chip and pin!

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beast5680:
I have had to have a new credit card as just recently every time i use it it doesnt request the pin number and always wants a signature instead, i didnt wory about this until i had to use one of these new fangled hand held jobbies, you may have seen them in restaurants, but the one i used is on the snap on van we have come round( :-$ dont tell the wife i,ve been on it again) where it displayed "do not honour card". 3 times we tried and 3 times it failed :evil:  so i ring up Halifax card services who tell me i,ve had a chip failure about 2 weeks previously :roll:
So if my card was stolen anybody could have used it and signed for it as i didnt need the pin?, when i asked why they hadnt notified me if they knew the chip had failed and the card was still being used i got the answer "we dont do that you have to request a new card"
so much for technology then!

TimM:
In my mind the chip and pin method which was brought out to improve security IS WORSE.

If they can read your card details with there machines, can they not also read you pin number?

Also with a small video camera or a good set of eyes 'people' can relatively easily find your code, and after say a quick 'bag snatch' will have unlimited access to your spending power.

If the retailer pays proper attention (which I know most of them don't) a good old fashioned signature is much harder to forge.

I use two payment cards - one a debit card and the other a credit card, one is signature and one is chip and pin, I don't really have a preference for either system. I just feel they have created a new thing costing a small fortune which can only lead to us having to pay for it somehow.

Tim.

strapping young lad:
what chance do you have when the banks get hacked and accounts get hacked anyway.

at least with a credit card there is some insurance i think for stolen money?

personally i use chip and pin in preference to signature as then they can copy your signature for malicious purposes

thing is though its mainly the bigger companies who use chip and pin, but they are becoming more common

as long as you are a bit paranoid about where u use the chip and pin and do what i do and move the handset away from the desk and hold in your hand close to you (so they can see what u are typing) as well as from other prying eyes.

Hightower:

--- Quote from: "TimothyM" ---If they can read your card details with there machines, can they not also read you pin number?
--- End quote ---

No, they can't.  The PIN is not stored on the mag stripe at all.  That is why Chip & PIN has been very effective, where used, to reduce 'skimming' fraud.  C&P, eventually, should negate the need for the customer to ever hand their card to another person.  You will have to put in the reader, type your PIN and then remove it again.
The more people that use C&P, the better it will be for all of us in the long run.  Yes, people can 'see' you typing your code in at a machine, but if you are careful, then this should never happen.


--- Quote from: "TimothyM" ---If the retailer pays proper attention (which I know most of them don't)
--- End quote ---

And that's the point, they don't.  I know of projects that tested retailers, and the vast majority failed to adequately check signatures.  So signing a piece of paper is, in most cases, less secure.

LOFTY:
Well, chip and pin, signature, it doesnt make any differance, as a couple in Taunton found out last week.
They went to use cash machine, and a gang of 15 forced them to hand it all over.
This has come as a bit of a shock to us in the west country, as this sort of thing is rare down here.
Nobody is going to say no too 15 blokes, unless you like hospital food. :evil:

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