MULTIZ321
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BLUEWATER BY SPINNAKER HHI
ROYAL HOLIDAY CLUB RHC (POINTS)
Preparing for Chip-and-Pin Cards in the United States - by Mark Scott/ Security/ Bits Blogs/ International New York Times/ The New York Times.com
LONDON —" On a recent morning, eager shoppers swarmed around Covent Garden, a 350-year-old former open-air vegetable market in central London whose glass-fronted stores now include popular American companies like Apple and Shake Shack.
But when consumers here pulled out a credit card to make a purchase, they got an extra layer of security compared with most shoppers in the United States. A chip embedded into all credit and debit cards in Europe — a technology known as E.M.V. — has cut many forms of card fraud by more than 65 percent in the last decade.
“At first, it was a little strange to use, but now it’s become second nature,” said Jennifer Spencer, 39, an office manager, who was at Covent Garden to get a head start on holiday shopping. “I can’t imagine paying for things in any other way.”
The technology, which has a microchip in the card and requires consumers to enter a PIN at checkout, has been required in Europe and some countries elsewhere for about a decade. Now, Americans retailers and banks are preparing for the wide release of the technology, in a wholesale security upgrade that will cost billions of dollars. The change will start next year and is expected to take several years to complete..."
Richard
LONDON —" On a recent morning, eager shoppers swarmed around Covent Garden, a 350-year-old former open-air vegetable market in central London whose glass-fronted stores now include popular American companies like Apple and Shake Shack.
But when consumers here pulled out a credit card to make a purchase, they got an extra layer of security compared with most shoppers in the United States. A chip embedded into all credit and debit cards in Europe — a technology known as E.M.V. — has cut many forms of card fraud by more than 65 percent in the last decade.
“At first, it was a little strange to use, but now it’s become second nature,” said Jennifer Spencer, 39, an office manager, who was at Covent Garden to get a head start on holiday shopping. “I can’t imagine paying for things in any other way.”
The technology, which has a microchip in the card and requires consumers to enter a PIN at checkout, has been required in Europe and some countries elsewhere for about a decade. Now, Americans retailers and banks are preparing for the wide release of the technology, in a wholesale security upgrade that will cost billions of dollars. The change will start next year and is expected to take several years to complete..."
Richard
