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October 23, 2011


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This is all the fault of the american banks who refuse to put the EMV chip on their cards. I live in Europe and my card has a chip. Using magnet stripe will fail at every terminal which is equipped with a chip reader as the use of the chip is mandatory when possible.

Probably this is also the reason why the credit card data is abused in the states because you terminals don't have the chip reader and therefore will accept any cloned card, even copies of european cards which actually have a Chip.

Sanjay Jhawar

Andy - I believe you need to check out Finsphere http://www.finsphere.com/ - founded by Mike Buhrmann(who was a BridgePort board member and co-founder with Tom Carter of @mobile)


Kevin Baggs

The other thing the US credit card companies could do is update their systems to chip technology. Although not a 100% deterrent, it greatly reduces fraud. US is one of the few countries in the world that does not have a plan to update to chip technology due to costs.

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