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Old 10-03-2015, 02:58 PM
 
525 posts, read 618,011 times
Reputation: 197
First let me explain this but this time I think about half of people on this forum should have already received the new card with chip from their bank.

EMV stands for Europay, Mastercard, Visa , three companies that created PIN-chip standard that is more secure than traditional magnetic. They are almost impossible to clone and each transaction generates unique transaction number that cannot be later used unlike with static information on magnetic stripe.

Some people confuse those for NFC contactless chip cards but that is different standard and it has been in the US for quite a while.

As of know I think only few retailers have activated chip reader on their terminals such as Target. We are still gonna see swipe for a while until merchandisers upgrade their equipment.

Also all the cards issued in the US are for now Chip-and-Signature, not the more secure Chip-and-PIN used elsewhere in the world. So if anyone steals your card can still easily use it because nobody checks for ID and signature (unless you go to a casino in Las Vegas). Who knows when more secure method will be adopted.
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