Credit card Fraud

[Kevin, PA]

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.

[Lady Jane]

Oh I see Lido, you do not have chip technology available in the US yet. I am in Canada and we have had it for a few years now, at least 3.
Here is a link when it is going to be effective in the US
http://www.businessinsider.com/chip-...in-2015-2014-2

[Lady Jane]

The chip cards look like this:

[rooster]

Before I head to Jamaica (Negril) for my yearly reach I call my CC company & give them the dates I will be there..as well as what the card will be used for...which is for only one thing....a sizable security deposit on my motorcycle rental from the guy I've been using for years. I use cash to pay for absoutely everything else..so low & behold I decide to pay some bills online for home (which I failed to tell the CC people since I knew I was going to do it) & about the third one in the card is declined telling to call the CC people security people. I did & after they propcessed all the security info they took the hold off..the travel info I gave them worked. I thank them for doing what they were supposed to do...protect us..& that said I've never had any CC issue's in/from Jamaica in the 22 years I've been going.

[mmtripoli@earthlink.net]

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!