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The Water Cooler
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Credit Card Compromised
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<blockquote data-quote="Mad Professor" data-source="post: 2990042" data-attributes="member: 5316"><p>They are only more secure if the transaction uses the chip. If the transaction involves swiping the magnetic strip on the back, the chip is not involved and there is no difference than using a card without a chip. </p><p></p><p>Most of the security features involved is to protect the merchants. There are ongoing changes in credit card processing regulations to make the merchants responsible for fraudulent charges instead of the credit card companies. Upgrading their equipment and using the smart card with the secured chip transaction instead of a swiped transaction puts the risk back on the credit card companies.</p></blockquote><p></p>
[QUOTE="Mad Professor, post: 2990042, member: 5316"] They are only more secure if the transaction uses the chip. If the transaction involves swiping the magnetic strip on the back, the chip is not involved and there is no difference than using a card without a chip. Most of the security features involved is to protect the merchants. There are ongoing changes in credit card processing regulations to make the merchants responsible for fraudulent charges instead of the credit card companies. Upgrading their equipment and using the smart card with the secured chip transaction instead of a swiped transaction puts the risk back on the credit card companies. [/QUOTE]
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Credit Card Compromised
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