Contactless cards are just catching on in the US, years after rest of world
127 replies, posted
Literally what does geographical size have to do with this? Is contactless payment like some kind of gas that spreads throughout the country, starting at the coasts?
Through what mechanism does size slow down the adoption of a payment system? People don't forget how large the US is, they just don't get why that would even be a factor.
The sheer amount of PoS systems that need to be replaced and upgraded, which is an extensively expensive process?
The number of different banks and sub-banks that all need to update their systems to handle contactless?
The fact that this is all spread over an absolutely massive country with population scattered throughout it?
I don't know what Russia's systems are but it wouldn't surprise me that they didn't implement them securely.
And... ? What's the difference between one big country doing it and several small ones doing the same thing? Raw numbers are irrelevant, what matters are ratios.
Do you have more PoS systems per capita than your average European country? More banks, more cards per capita? Lower GDP per capita? If not, then I see no reason to believe rolling out that sort of tech would be harder there than here.
Also, no idea how population density is supposed to affect technological adoption. You'll have to describe the mechanism to me.
Europe has more than twice the population of the United States and has all sorts of different banks and legal/regulatory environments, but contactless deployment is far ahead of the United States and has almost eclipsed all other forms of payment combined. I don't see why the US couldn't be leading on this if they wanted to
From what I can tell most of the POS terminals already supported contactless, they just needed it enabling. Of course many terminals will need updating but those that already support it should be literally some form of setting activated.
Even if I wanted to use NFC on my phone for contactless stuff, almost no places have it. So I stopped enabling it on my phone. I only just got a card with a chip in it like 18months ago.
I had no idea the phone pay things were actually popular in other places, ive worked at mcdonalds managing since 2016 so i swipe a whole lotta card, never have i seen someone pay with one of those, and i despise the chips. swiping took 1 second then i hand it right back approved or not, but the chip? its taken 5-10 seconds to go beep beep beep for the past couple of years and only recently has it went down to taking 3-4 seconds with a different noise im noticing in all stores not just where i worked
Mag stripe is such a huge security issue. I just stumbled across this report about credit card fraud.
> 60 million US payment cards have been compromised in the past 12 months.
> 45.8 million or 75% are Card-Present (CP) records and were stolen at the point-of-sale devices, while only 25% were compromised in online breaches.
> 90% of the CP compromised US payment cards were EMV enabled.
> ...the theft level of EMV-enabled card data in the US is 868% higher or a difference of 37.3 million records compared with the rest of the world combined.
> As 2018 comes to a close, besides refuelling stations, there are numerous merchant locations that are still asking their customers to swipe rather than use the chip insert method, thus completely neglecting the EMV security features.
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