The US is one of the few developed countries where credit cards with chip are not yet standard. In 2015, however, security is improved – but not fully. The Americans will still not have to remember “difficult” PINs.
In 2015, the major US banks to give out more than half billion new credit cards with embedded chips of European type.
The chips will not be combined with the pin-codes used in much of the world, but with the buyer’s signature. The American solution is regarded by experts as less safe, reports the Wall Street Journal.
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According to the banks, the simpler solution is chosen so that consumers will not be forced to remember the four-digit pin code when they are standing in the checkout.
“chip and signature cards were such a big change that we did not make it even harder than it already becomes “said one banker told the newspaper.
Among the well-known banks that invest in signature cards hear JP Morgan Chase, Bank of America and Citigroup.
Computer chips are then introduced a number of companies affected by fraud which could have been avoided with a more advanced technology than the old cards with magnetic stripes.
In Europe, Canada and Australia are now used combination chip and PIN. The United States is one of the few developed countries that do not use the technology.
In Europe expected the first cards with fingerprint technology launched in the 2015th
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