From next week, a signature will not be good enough to buy goods or services across Britain.
The deadline for shoppers to remember their debit and credit card pin numbers is Valentine’s Day, next Tuesday. From then on, cardholders are no longer assured the option of signing to verify a purchase and may have their cards refused.
But some retailers are not ready for the technology.
They can choose to accept signatures but will take on responsibility for making good on losses from fraud.
That’s what your English teacher called an operative phrase.
As the population expands, our great-great grandchildren may need second surnames, and a longer serial number to function in this mass of humanity we have created. There is already (I have heard) a study taking place at UMSL (University of Missouri at St. Louis) about the ramifications to the census should all undocumented (illegal) emigrants be documented, legal emigrants continue to increase at current rates, and progected births continue at current rate, and progected increased life span of every party new and old. It’s pretty scary to think that one day most of the nation will be one big suburb and most of our cities will dwarf present day New York City. If that study has any real weight, I hope it’s findings get into the mainstream media whenever it concludes. There are parts of the world that claim population decline (mostly Europe,) but that doesn’t factor emigration from the mid east and Asia. After that is taken into the equation the is actually minor growth.
I don’t blame people coming here to share in the American dream, but It scares me that they bring fifteen children with them who have been taught to have fifteen kids of their own (and we have some of our own doing that as well.) I don’t propose a solution, but someday somebody will have too.
way to stay on topic!!!
Interesting to see how that would affect my current BoA Visa “check card” – with my mug-shot and signature printed on the front… I guess they won’t need either of those, as long as I can produce that 4-digit number. 🙂
And, my wife is one of “those” people – who writes “see photo I.D.” on the back of her credit cards. She’ll love this when it becomes common in the US – as I automatically assume it will. 🙂
We’ve been allowing PIN-less transactions at gas-pumps for awhile now. And, I was surprised when [last year] my local Walgreens ran a purchase authorization without PIN or signature. When I asked how it was done, the clerk informed me they didn’t need authorization for anything less than about $50 [USD]. Probably not coincidental that the consumer is usually liable for the first $50 in a fraud case – so they’ll let us take the hit on multiple $50 charges. 🙂
Damn,
Why did I use three smiley faces in one post?
My apologies.
Mike Voice–
Don’t apologize. I learned the art of the smiley face from you. 🙂
50 Dollars! All the retailers that haven’t made me sign say its $10.
I think it’s extremely convenient – faster than cash – especially at lunch spots and Starbucks where you would otherwise feel like a schmuck for holding up the line. But I think $50 is a bit high.
Be sure to report any stolen card immediately.
I’d like to know how much CC fraud is from stolen cards, and how much from counterfeit cards. I don’t think rolling out chip-and-PIN cards in the US, and replacing all those card readers, would be economical.
Maybe we should all have bio-metrics with retina scanners at each checkout.
Credit cards need to be redesigned…. it’s long overdue. Credit card fraud is WAY too easy.
But, I am not proposing that it be made more complicated… it must be both very easy AND fraud resistant.
So, a PIN system seem reasonable… but I would add a smart credit card that issues unique numbers for each transaction.
You’d slide the card into slot, enter four digits and that’s it. The smart card issues a disposable number so it can’t be negligently mishandled by idiot companies — something that seems to “accidentally” happens about every month now.
The scanners will be dirt-cheap, so you’d have a couple at home for phone/computer shopping.
I like the speed of swipe and sign; a pin will slow things down again like Interac.