7/23/2016
News
The use of bank cards for payment has become popular around the world,
and chip cards are increasingly widely deployed due to higher security than magnetic cards are easily counterfeited.
Loi - chip card damage.
To combat the fraudulent transactions, the retail industry in many countries are moving from the payment from the card into the card type integrated electronic chip (actually a microcomputer), commonly known as chip cards.
Chip technology, known under the name EMV (with the cooperation of organizations Europay, MasterCard and Visa) has been applied in Europe for many years. In Vietnam, the card is still popular, but in the context of increasing card fraud, domestic banks are racing to move issuing chip cards to replace magnetic cards.
Method of payment by bank card as chip cards though there are certain inconveniences.
With this type of card, the waiters in the restaurant and then swipe your card through the reader, wait a few seconds, grab printed invoice given to the customer is done, feeling very quickly. But with chip cards, instead of swipe cards is inserted into the reader and card are not immediately but must wait about 10 seconds to complete the payment transaction. Meet time payment at the same time many people, feeling each card waiting to take the sometimes inhibitors for both employees and customers.
There have been cases where customers walk away while employees are their card inserted into the device and wait for payment transaction is complete. It must have been uncomfortable experience for both sides.
In the United States, from October last year the banking industry began to push into international legal responsibilities when selling payment fraud with counterfeit cards. That means that now if a criminal uses fake credit cards to pay in a store, shop owners suffered losses. This change forced many retailers to upgrade their device to the payment chip card reader, ensure information security than magnetic cards. By the end of this year, about 80% of US credit cards will be chip cards, according to a latest report from anti-fraud firm Iovation and research firm Aite Group.
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