Credit Cards Strip Or Chip?
- Thread starter whitedust
- Start date
Can you post a pic of it (front and back)? I am sure someone will be able to tell if it can be used.
srt20
Active member
X2, that will help....
600_RMK_144
Well-known member
I work in the industry. If you have been issued a Chip Card, it will continue to function at Mag Strip only terminals. No plans for Mag Strip to go (completely) away any time soon. Mag Strip obviously is not as secure as using the Chip, but it will still work. Reason being exactly what your original question was regarding --- The mom and pop stores that can't/ won't move to chip card readers at their establishments due to the cost of upgrading.
G
G
Guest
I have a retail business in MN. By law I had to upgrade my old card readers to chip readers by last October. So the hardware is in place but the system is not supported yet by my credit card processing company. It is my understanding that very few chip readers have been enabled nationwide. Those that are up and running are guinea pigs. The system is basically not working yet. All of the new cards with chips also have magnetic strips so they will still work on any card reader. The whole idea of this conversion is to get rid of data stealing associated with magnetic strip card readers. Remember Target a few years back and all of their customers that were compromised? The credit card companies are being taken for millions and this chip card is supposed to prevent that. By the way the rest of the world has had chip cards for years. we are way behind the curve.
I thought I was way behind this chip card reader deal. just finally got a chip reader this spring. Works just fine. The way the law reads is if there is fraud at your business and you don't have the ability to process the chip card you yourself are liable for the fraud. That is when I knew I had to get a chip reader. Been working just fine for 4 months now.... Oh and this is at our small ag dealership. So we maybe process a card 5 times a week....
T
Tracker
Guest
slow day eh WHITEDUST? your gonna halfta go for cabin supplies soon dude the summers almost over and seein as ya aint been outside for at least 8 months....cover your eyes...and try to remember your pin number for that card so's ya can use it at the SUNDRY GOODS STORE....they will send you a chip card AFTER you get a modern phone...only then....LMAO....j/k
600_RMK_144
Well-known member
Absolutely correct. A "liability shift" took place last year. New law is whoever has the "least protection" will be liable for the fraud charges. Should that be the merchant because they do not accept chip cards or possibly the bank because they have not yet provided chip cards to their customers. So, although you might not process very many transactions, if there is fraud, you could very easily be liable if you do not have the chip enabled devices installed. Boring stuff for everyone on this site... Can't help a single person with their sled issues, but I got this one covered. LOL!
My CC processor, Michigan Retailers Assoc. recommended all its customers upgrade machines to chip card readers last fall. I have had the chip card reader since last Oct. 1. Every credit card that has a chip also has the card reader strip. Unlike the strip cards, the chip cards are inserted into the reader and not removed until instructed to do so after the transaction has processed. It cost me $$ to upgrade to the Chip card machine, it had to pay for the card reader, 100's of $$ or sign a contract to stay with the processor of x number of years.
Q: What makes the Chip Card more secure?
A: Traditional magnetic stripe cards require a signature for security purposes. A Chip Card adds an additional layer of sophisticated fraud protection through an embedded microchip that turns cardmember information into a unique code when used at a chip-enabled terminal that is difficult to duplicate or copy. This type of card has been around for more than a decade and is safe to use; it is already standard practice in more than 80 countries worldwide.
Q: What makes the Chip Card more secure?
A: Traditional magnetic stripe cards require a signature for security purposes. A Chip Card adds an additional layer of sophisticated fraud protection through an embedded microchip that turns cardmember information into a unique code when used at a chip-enabled terminal that is difficult to duplicate or copy. This type of card has been around for more than a decade and is safe to use; it is already standard practice in more than 80 countries worldwide.
be sure not to cover 3 numbers on the back when u post picks . they always ask for those
CC company talked to my wife and I was puzzeled why we needed both strip & chip. Apparently it is an auto bill transition from one to the other. PITA for us but worth it.
krupps_resort
New member
Both Krupp's Resort & Krupp's Mini-Mart has Chip/swipe machines. Sometimes we are asked for 3 security #'s and sometimes not. If you use a debit card you will be asked to enter your pin #.
Grant Hoar
New member
I must have read this wrong, i was thinking there is no way i use a credit card at a strip club! Not sure how to pay with chips though
lofsfire
Well-known member
That's because it is not a real credit card. The Target REDcard is a store card that can be used only in Target stores for purchases. The Target REDcard Visa is a credit card as well, and can be use anywhere that Visa is accepted in the world. The standard Target REDcard is linked to your bank account and is basicly is a debit card that gives you extra discounts. Depending on how much you buy there it can save you a lot of money.