Microchip in VISA cards

Please note this sub-forum does not provide professional finance advice. You should seek advice from a licensed financial advisor.

To post in this sub-forum you must have made 100 posts or have Trust status or have completed our ID Verification.

If investing please consider our affiliate link for new accounts: Sharesies.

Forums › Finance and wealth management › Microchip in VISA cards

1 | 2

Nety

2584 posts

Uber Geek

Retired Mod

Trusted

Lifetime subscriber

#180836 28-Nov-2008 07:53

So can anyone confirm if at this stage it is only Visa with chips? I just got a replacement mastercard and that still does not have a chip.

Media centre PC - Case Silverstone LC16M with 2 X 80mm AcoustiFan DustPROOF, MOBO Gigabyte MA785GT-UD3H, CPU AMD X2 240 under volted, RAM 4 Gig DDR3 1033, HDD 120Gig System/512Gig data, Tuners 2 X Hauppauge HVR-3000, 1 X HVR-2200, Video Palit GT 220, Sound Realtek 886A HD (onboard), Optical LiteOn DH-401S Blue-ray using TotalMedia Theatre Power Corsair VX Series, 450W ATX PSU OS Windows 7 x64

scottjpalmer

5973 posts

Uber Geek

Moderator

ID Verified

Trusted

Lifetime subscriber

#180844 28-Nov-2008 08:55

Nety: So can anyone confirm if at this stage it is only Visa with chips? I just got a replacement mastercard and that still does not have a chip.

It is only the Platinum VISA that ASB is putting microchips in, Standard and Gold don't have them yet . . .

knoydart

904 posts

Ultimate Geek

Trusted

#180847 28-Nov-2008 09:03

My kiwibank Mastercard has a chip in it - not used in anger yet (the chip that is) however

wellygary

8312 posts

Uber Geek

#180857 28-Nov-2008 10:02

sbiddle: Chip + PIN has also been compulsary in the UK since 2006.

Bank credit card security in this part of the world is very very lax - I even know of people travelling around Europe who have had credit cards declined because they don't have chip cards. Merchants simply won't accept them due to their perceived fraud risk.

Its not quite fair to say that security has been lax in this part of the world for so long,

UK with chip+PIN has leap frogged NZ's level, but previous to this there was no PIN verification at all, only a signature. ( for both credit and Debit cards)

NZ has had PIN verification for yonks, all that happened is the UK went to embedding chips a few years before NZ.

(The Chip essentially reducs the ability to skim the card, which was not a huge problem in NZ, but is more rampent in many other parts of the world.)

ajobbins

5052 posts

Uber Geek

Trusted

#180889 28-Nov-2008 12:47

We purchased some US currancy last week and opted to put in on one of the new National Bank Travel Cards (http://www.mytravelcard.co.nz).

These are a MasterCard (Prepaid and in USD) and have an embedded chip. I think the local banks are *slowly* waking up to the fact that this is almost a requirement these days for overseas.

I'm quite surprised that the BNZ have not chipped their GlobalPlus cards, seeing as they are heavily marketed as a Travel oriented Credit Card.

Neither of my recently reissued National Bank Thoroughbred Visa or GlobalPlus Visa has a chip.

PenultimateHop

637 posts

Ultimate Geek

Trusted

#180920 28-Nov-2008 14:11

sbiddle: One of the biggest changes here will bo in restaurants and cafes. Despit the security risks it's still very common for people to leave their credit card with their bill and for staff to swipe this and bring back their receipt to sign.

With chip cards this can't work any longer. The customer either has to go to the counter and pay or as many as happening with quite a few bars or cafes now they can invest in WiFi or cellular terminals that are portable.

Portable terminals have been available for years. You see them all over the place in Australia, Asia, UK, etc. The waiter (or bartender, etc) just brings the terminal to you.

I've has an Asia-based chip card for ages, and have always been entertained by merchants in NZ not knowing what to do when the terminal says "insert card". I've definitely run into the card-upside-down reader as well. That said merchants are getting better at it.

mdf

3512 posts

Uber Geek

Trusted

#182378 5-Dec-2008 20:59

We just got back from the UK and are still using our UK credit cards for some things. We had the reverse problem - out of force of habit I put the card/chip into the reader/hanset, and got a message stating that it would not work and I had to swipe it through the magnetic strip.

But as others have said, the machines are usually pretty good about giving instructions. And pretty much every machine now has the capability of doing both.

Just got a new Kiwibank Mastercard Gold - no chip in that.

On the whole, I rather liked the chip + PIN approach, though I guess its really not that different at an operational level (security wise, I understand that its out-of-sight better though still has some flaws).

Definately should roll out the wireless terminals though - makes such a difference at bars and restaurants.

While we're at it, bring in the Swiss system - 6 digit pins! That will frighten some - two more whole digits to remember.

Equinox IT

Cloud spending continues to surge globally, but most organisations haven’t made the changes necessary to maximise the value and cost-efficiency benefits of their cloud investments. Download the whitepaper From Overspend to Advantage now.

scottjpalmer

5973 posts

Uber Geek

Moderator

ID Verified

Trusted

Lifetime subscriber

#182391 5-Dec-2008 22:53

Been all good so far - no confused shop assistants and haven't used the mag stripe yet.

jackreach07

25 posts

Geek

#182857 8-Dec-2008 21:31

i have had a chip in my ANZ Visa for nearly 5 years. When I first got it most retail stores were fascinated by the chip on the card. I think that these were the first ones they had in NZ. They used to market them as ZED cards and their TV ads for these cards used the Thunderbirds characters if anyone can remember back that far. The chip was pretty much useless for the first few years it was on my card coz very few eftpos machines accepted the chip so I have just been swiping it. its only been in the last year or so that I have had to insert the card when making a purchase.

its good now that most shops are aware of the chip cards but you still come across a few that look puzzled when the display says "Please Insert Card". The transaction takes twice as long to process when you have to insert the card too which i find strange!

nzkc

1571 posts

Uber Geek

#182871 8-Dec-2008 22:57

The transaction takes twice as long to process when you have to insert the card too which i find strange!

I made the same comment earlier in this topic. However, I have since noticed that this is not always the case. More often than not it is definitely longer but I have noticed some places its been just as quick. I haven't spotted the pattern yet.

TinyTim

1042 posts

Uber Geek

Trusted

#183668 12-Dec-2008 07:33

New Zealand is behind because there hasn't been as much of a need - we have much lower credit card fraud than most other countries. Malaysia was especially bad so they had no choice, leading the way with chip cards about 4 years ago.

Have to laugh one time when I was with my father a few years ago - he has actually scribbled out the signature panel on his c/c because he thinks it's ridiculous form of security and will only use his PIN - my mother thought he couldn't reach the key pad so helpfully pressed the 'ok' to sign button rather than PIN - so he had to sign, and he just recreated the scribble. Accepted. Hilarious.

NokiaRocks

364 posts

Ultimate Geek

Trusted

#183695 12-Dec-2008 09:47

The idea behind having the microchipslot in the pinpad was so that the customer never actually had to hand over their card to the merchant...

1 | 2