Comments on: What are Chip and PIN Credit Cards? http://www.creditcardoffers.com.au/guide/2009/07/what-are-chip-and-pin-credit-cards/ Detailed information on Australian credit cards Sun, 21 Nov 2010 22:07:50 +0000 hourly 1 http://wordpress.org/?v=3.3 By: admin http://www.creditcardoffers.com.au/guide/2009/07/what-are-chip-and-pin-credit-cards/comment-page-1/#comment-132 admin Mon, 20 Jul 2009 13:03:13 +0000 http://www.creditcardoffers.com.au/guide/?p=253#comment-132 While the initiative won’t necessarily improve your credit card’s safety, Pen or PIN Project Manager Simon Greig says it will speed up transaction time and give consumers more choice. The point with signing is that if someone steals your card they can have a go at signing for transactions with the card. In most shops people rarely check the signuature to see if it matches or not. If a card is PIN only I believe that it does make it harder for thiefs to use the card. While the initiative won’t necessarily improve your credit card’s safety, Pen or PIN Project Manager Simon Greig says it will speed up transaction time and give consumers more choice.

The point with signing is that if someone steals your card they can have a go at signing for transactions with the card. In most shops people rarely check the signuature to see if it matches or not. If a card is PIN only I believe that it does make it harder for thiefs to use the card.

]]> By: Keith http://www.creditcardoffers.com.au/guide/2009/07/what-are-chip-and-pin-credit-cards/comment-page-1/#comment-129 Keith Sat, 18 Jul 2009 18:36:18 +0000 http://www.creditcardoffers.com.au/guide/?p=253#comment-129 One thing that people, and the media overloook is that chip and pin technology is not there to protect the consumer. It is there to protect the banks. You state that it's easy to copy a signiture, I doubt this is true. The beauty of a PIN number, for the banks, is that the user has no way to prove it wan't them that used the pin, whereas with the signiture system, if disputed transactions took place, the user just had to request copies of the signed slips, which were usually non-existant, or easily identified as forgeries. While it should be somewhat difficult to find out a pin (not true actually, as pin-hole cameras and such are being used for this purpose) even though you know the person's name, it takes good samples and a lot of patience to copy a signiture with reasonable accuracy. One thing that people, and the media overloook is that chip and pin technology is not there to protect the consumer. It is there to protect the banks.

You state that it’s easy to copy a signiture, I doubt this is true. The beauty of a PIN number, for the banks, is that the user has no way to prove it wan’t them that used the pin, whereas with the signiture system, if disputed transactions took place, the user just had to request copies of the signed slips, which were usually non-existant, or easily identified as forgeries.

While it should be somewhat difficult to find out a pin (not true actually, as pin-hole cameras and such are being used for this purpose) even though you know the person’s name, it takes good samples and a lot of patience to copy a signiture with reasonable accuracy.

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