Some big U.S. retailers are stepping up efforts to use personal identification numbers, or PINs, with new credit cards embedded with computer chips in a bid to prevent counterfeit card fraud.
1. Why is this being resisted by banks?
2. Which retailers are leading the movement?
3. Discuss the costs and benefits of the “chip and PIN” versus the “chip and signature.”
4. What does the EMV stand for in EMV chips?
5. When and what was the significance of deadline associated with EMV chips?
Finkle, J. (2015) U.S. retailers push banks to use PINs on credit cards as confusion reigns. Reuters.com, Oct. 30 (Retrievable online at http://www.reuters.com/article/2015/10/30/us-retail-banks-cards-idUSKCN0SO24D20151030)