Meaning Of "Chip" At The Checkout Counter (best, phones, purchase)
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What I find annoying is that the chip take sooo much longer to process than the old magnetic stripe.
Yeah I've noticed that too. Not just a quick swipe anymore, you have to leave your card in the reader until the transaction is complete. A step backwards in that regard.
On the plus side it won't rub off and become unreadable over time like a magnetic strip though.
I got my first chip card a few weeks ago after the bank merger. If a store does not use it I either avoid it or pay with cash. Using the magnetic stripe with a chip enabled card sort of defeats the purpose of the security feature. I have understood for a long time that using plastic comes with some degree of risk. That's why I just don't keep a whole lot of money in that account.
I have had purchases shipped to dozens of addresses that are not my own, and I have NEVER had to notify anyone or add any address to my profile.
But you had to input your billing address when entering the card information and usually the security code from the card. Without that information, a stolen credit card number is useless for online transactions.
All my credit cards converted to chips months ago, some even last year. Until two weeks ago, I had not been to a single retail establishment that had upgraded to the chip-reading machines and still just swiped my card as before. Now the new supermarket in my neighborhood has a chip-enabled machine, and I was in a Home Goods last week with one. The cards with chips have been around for quite awhile just waiting for the people to accept them to catch up with the technology.
The issue was more with the retailers working with their providers early enough or simply willing to bear the risk of fraud. October 1, 2015 was the deadline set by the card issuers for merchants to start using the chip reader in order to ensure fraud protection by the card issuers. Some merchants figured they could call their processing provider on September 15 and be up and running. Unfortunately that was a silly thought. At that point, providers were already in a months long backlog - the merchants had over 2 years to prepare for the change. After 10/1, merchants still accepting swipe only had to deal with the fraud loss.
News flash: the bad guys already know how to hack the chips and insert their own code onto them. Debit card versions are already being used to load a virus into an ATM, that causes it to spit out cash, and then erases itself.
It's only a matter of time before they figure out how to max out your credit account and profit from it. I already have an idea of how it could be done (no, I'm not going to put it up here).
I'm a tech junkie, but I still prefer swipe and PIN. It's faster to enter a PIN than to sign (especially for me, since I'm a lefty and I have to go through contortions to get my sig on the stupid machine.
Safer? Not if someone gets the card. The machine doesn't care what you scribble on there, and nobody is checking your ID to make sure your sig matches.
Plus, the chip can be scanned even with your wallet in your pocket, unless you use an RFID blocking wallet or card-wrap.
The whole system is a gigantic waste of money, and inconvenient too.
That's so true. Yesterday I bought groceries and the salesgirl was talking about cookies while I was signing that cc machine thing, and I signed elliedee cookies... and it went right through. There have been a number of times where the sign machine doesn't even pick up my signature and it looks like it was written by a pen that's running out of ink. It still goes through.
Why bother having to sign at all if the signature means nothing? I don't get it.
Yep, but that is not what the conversation was about.
It was about where it was delivered, the shipping address.
Yeah. Whenever I order anything it has two address choices, billing and shipping.
With vendors I use frequently the information on the billing address (and the shipping address) is already in there.
I can change either at the point of sale.
So I get your credit card, choose a vendor you already use, like Amazon for instance, all I'd have to do is change the shipping address since the billing address is already there.
What I find annoying is that the chip take sooo much longer to process than the old magnetic stripe.
It doesn't need to. It doesn't in Europe. Bank and CC software progammers are basically at the stupid end of the spectrum of programmers. After some outcry they have speeded it up - but there's no reason not to have done that in the first place.
These are the same clowns who had Citibank, and other, ATMs back in the day require you to not only enter the dollar amount but also cents amount in the withdrawal request for a machine that can only dispense bills. Please give me $100.50.
Every chip reader I have used takes about 3-5 seconds to recognize and then a second or two to authenticate. Total time from inserting my card to removing it is less than ten seconds including entering my PIN.
But if you live in some backward place where technology doesn't work well due to harmonic convergence, ley line interference, or simple sabotage by evil, forest-dwelling clowns, don't worry. The next technology is coming along soon.
Machines similar to metal detectors (an arch you pass through) will simply automatically scan your purchases, recognize your phone which will be attached to your bank account, and remove the funds without any effort on your part. You just pick up your purchase off the shelf and go.
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Yesterday I bought groceries and the salesgirl was talking about cookies while I was signing that cc machine thing, and I signed elliedee cookies... and it went right through. There have been a number of times where the sign machine doesn't even pick up my signature and it looks like it was written by a pen that's running out of ink. It still goes through. 
