Finally we can get rid of these third-world credit cards.

[Homicidal_Squirrel]

On the heels of the Target credit card breach, every single credit card in the U.S. will be replaced by next year.

 

[Man in the Funny Hat]

No, they won't. Because i t would also mean replacing every ATM, every cash register, every card reader, everywhere in the country in that same year, during which both old cards and new cards will fail to work in 50% of the places they are attempted to be used either because the location has not upgraded and can't handle the new card, or because the location HAS upgraded and therefore can't handle your old card. It would be an UNBELIEVABLY difficult job to simply wipe all the existing card infrastructure out of existence in one fell swoop, not to mention an exhorbitant cost that everyone will kick and scream about paying for it - no matter HOW much they're losing to CC fraud and ID theft.

 

[Homicidal_Squirrel]

Why you gotta ruin it, bro? Not cool. Not cool at all.

 

[Kramodlog]

You guys still do not have the chip? Might has well pay with cash so you can be tracked.

 

[freyar]

No, they won't. Because i t would also mean replacing every ATM, every cash register, every card reader, everywhere in the country in that same year, during which both old cards and new cards will fail to work in 50% of the places they are attempted to be used either because the location has not upgraded and can't handle the new card, or because the location HAS upgraded and therefore can't handle your old card. It would be an UNBELIEVABLY difficult job to simply wipe all the existing card infrastructure out of existence in one fell swoop, not to mention an exhorbitant cost that everyone will kick and scream about paying for it - no matter HOW much they're losing to CC fraud and ID theft.

Well, I agree that it won't likely happen in a single year, but Europe switched a while ago, and the switch-over in Canada was pretty smooth in the last 5 years or so (I don't exactly remember when the chips started showing up). You just have a stripe and a chip on the card --- no chip reader yet, use the stripe. And it's pretty much just at merchants; while I might not have known about it, I certainly didn't notice anything different at ATMs. The backward/forward compatibility issues you're worried about were just about non-existent.

 

[Morrus]

No, they won't. Because i t would also mean replacing every ATM, every cash register, every card reader, everywhere in the country in that same year, during which both old cards and new cards will fail to work in 50% of the places they are attempted to be used either because the location has not upgraded and can't handle the new card, or because the location HAS upgraded and therefore can't handle your old card. It would be an UNBELIEVABLY difficult job to simply wipe all the existing card infrastructure out of existence in one fell swoop, not to mention an exhorbitant cost that everyone will kick and scream about paying for it - no matter HOW much they're losing to CC fraud and ID theft.

Actually it turned out to be a fairly trivial and smooth process to the entire world except the USA. They all replaced ATMs, cash registers, card readers, etc. It's not like one person has to run round the entire country and do them all. Every store does its own; each bank handles its own. I can't even remember swipe & sign cards. I don't remember any particular difficulties.

 

[Man in the Funny Hat]

The backward/forward compatibility issues you're worried about were just about non-existent.

But this is America. If anyone can get in the way of our own best interests, we can. I won't go into political statements because that way lies madness and 3 day suspensions, but JEEPERS. Just look at the state of things around here...

 

[delericho]

No, they won't. Because i t would also mean replacing every ATM, every cash register, every card reader, everywhere in the country in that same year, during which both old cards and new cards will fail to work in 50% of the places they are attempted to be used either because the location has not upgraded and can't handle the new card, or because the location HAS upgraded and therefore can't handle your old card. It would be an UNBELIEVABLY difficult job to simply wipe all the existing card infrastructure out of existence in one fell swoop, not to mention an exhorbitant cost that everyone will kick and scream about paying for it - no matter HOW much they're losing to CC fraud and ID theft.

There's a mistake in the article - the new cards will not replace the magnetic strip with the chip, the new cards will carry both. Likewise, the new card readers will handle both the new and the old cards.

And that way, they get a gradual roll-out - if you have a new card, you can use it anywhere; if you have an old card... you can use it anywhere.

One thing to bear in mind: Europeans have had the new cards for a decade... and our credit cards have (mostly) worked just fine in the US during that time.

Well... at least, that's the way it will work assuming even minimal competence on the people doing the upgrade.

 

[delericho]

I can't even remember swipe & sign cards. I don't remember any particular difficulties.

The only difficulty I had was that I had long since forgotten the PIN on my credit card. So, the first time I tried to use the card I got locked out and had to use a different payment method. But I then had my bank reset the PIN and all was fine thereafter.

Possibly also of note: there was a period of about two years where the customer could choose whether to use the new chip-and-PIN method or continue to sign for things. It was only after that time, presumably once some 90% of purchases were with PIN anyway, that they discontinued the use of the 'signing' option.

 

[Bagpuss]

We don't even use chip and pin any more in lots of places in the UK, we use contactless payment, where you just tap your card on the machine to pay without needing to sign or put in a pin.