Quote Originally Posted by Kevin, PA View Post
North America is switching to the next generation of cards that use similar technology as SIM cards in cell phones. This will greatly reduce this type of fraud. Europe, who has been using these cards for awhile now does not have the level of fraud we have in North America. Why the banks didn't move to this technology sooner is beyond me.
We noticed this when we were deployed to Europe in 2012-2013. The parking garage pay machines and other automated pay kiosks would not take our North American CC's because they didn't contain the chip. When we asked at the German bank, we were told all about them and how much fraud it reduces. Made us ask "why not in the US?" We were told the technology is expensive and that US CC companies were slow to implement them because of the costs involved. Not sure how much but if we can get $10 phone chips at digicel, it would seem that it can't be THAT more expensive. This is not my area of expertise so anyone who has the answer - please let me know!