Gas pumps and new credit cards
- Thread starter edwardh1
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Too bad they won't let you pay cash anymore after you fill up. The only place I know of that does this is when I visit family back in WV. I guess everybody knows everybody there or they don't have many drive offs.
Originally Posted By: edwardh1
will gas pumps be required to switch over to the NON swipe credit card terminals?
Who would be requiring that they do this, I'm not sure I understand?
will gas pumps be required to switch over to the NON swipe credit card terminals?
Who would be requiring that they do this, I'm not sure I understand?
Originally Posted By: Nate1979
http://abcnews.go.com/Business/credit-card-chip-rule/story?id=34148839
Here is an article on the subject. Retailers will be responsible for the cost of fraud starting tomorrow if they don't use the chip readers. Gas stations have until 2017 to switch.
That is the correct answer in a nutshell.
http://abcnews.go.com/Business/credit-card-chip-rule/story?id=34148839
Here is an article on the subject. Retailers will be responsible for the cost of fraud starting tomorrow if they don't use the chip readers. Gas stations have until 2017 to switch.
That is the correct answer in a nutshell.
Originally Posted By: Rolla07
I think it has to do with cost to implement across the USA. They are all in use here and work fine. I know most places in the USA still accept swipe. Criminals arealready working on finding ways to defeat the new technology..so will we ever stay ahead? Will need to keep changing technology.
The technology is well over 10 years old and has been in use in Europe since the beginning. The hackers haven't had much luck. I doubt that will change. They have more success hacking servers and retrieving numbers.
As for some of the other comments in this thread, stores/companies do NOT have to use the new chips and they pay no extra expense if they don't use the chips. The difference is the credit card company will not be liable for fraud if the store sticks with magnetic strips but the store itself will be. That is why most stores are making the move.
Having said that, everywhere I have used my chipped cards (walmart, home depot come to mind) I do not have any issues. The delay is usually only about 5-7 seconds to get approved. I like knowing that my credit card info is encrypted all the way to the servers and the local store never gets the number. Walmart had some issues with their network about 8 months ago but that seemed to be fixed around 7 months ago.
I think it has to do with cost to implement across the USA. They are all in use here and work fine. I know most places in the USA still accept swipe. Criminals arealready working on finding ways to defeat the new technology..so will we ever stay ahead? Will need to keep changing technology.
The technology is well over 10 years old and has been in use in Europe since the beginning. The hackers haven't had much luck. I doubt that will change. They have more success hacking servers and retrieving numbers.
As for some of the other comments in this thread, stores/companies do NOT have to use the new chips and they pay no extra expense if they don't use the chips. The difference is the credit card company will not be liable for fraud if the store sticks with magnetic strips but the store itself will be. That is why most stores are making the move.
Having said that, everywhere I have used my chipped cards (walmart, home depot come to mind) I do not have any issues. The delay is usually only about 5-7 seconds to get approved. I like knowing that my credit card info is encrypted all the way to the servers and the local store never gets the number. Walmart had some issues with their network about 8 months ago but that seemed to be fixed around 7 months ago.
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Originally Posted By: badtlc
The technology is well over 10 years old and has been in use in Europe since the beginning. The hackers haven't had much luck. I doubt that will change. They have more success hacking servers and retrieving numbers.
Chargebacks have virtually disappeared from my business with the introduction of chips. Also, swiped credit card transactions are still technically possible, with a physical override after the terminal questioning the operating. Swiped debit transactions no longer exist. With respect to costs, with some pointing out an expense, guys with gas pump card readers will have costs. Most people who get a rental terminal at their point of sale will have it replaced by their provider in normal course.
Originally Posted By: baldtlc
As for some of the other comments in this thread, stores/companies do NOT have to use the new chips and they pay no extra expense if they don't use the chips.
They charge my business more for unsecured transactions, plus they dump the liability in my lap.
The technology is well over 10 years old and has been in use in Europe since the beginning. The hackers haven't had much luck. I doubt that will change. They have more success hacking servers and retrieving numbers.
Chargebacks have virtually disappeared from my business with the introduction of chips. Also, swiped credit card transactions are still technically possible, with a physical override after the terminal questioning the operating. Swiped debit transactions no longer exist. With respect to costs, with some pointing out an expense, guys with gas pump card readers will have costs. Most people who get a rental terminal at their point of sale will have it replaced by their provider in normal course.
Originally Posted By: baldtlc
As for some of the other comments in this thread, stores/companies do NOT have to use the new chips and they pay no extra expense if they don't use the chips.
They charge my business more for unsecured transactions, plus they dump the liability in my lap.
Nate1979 posted the correct info. Think it was as of today, if you aren't using the chip, you as the retailer are no liable for fraud - not the card company. Enough folks get burned and it will switch over completely quickly.
Easy to say there are no costs for retailers still using old technology. There will be a significant cost when they become liable for bad charges and pay a higher transaction fee....
I've had zero issue using any of my chipped cards. Not sure what the issues are everywhere else... Noted most retailers are equipped to use them now, though many have not as of yet.
Easy to say there are no costs for retailers still using old technology. There will be a significant cost when they become liable for bad charges and pay a higher transaction fee....
I've had zero issue using any of my chipped cards. Not sure what the issues are everywhere else... Noted most retailers are equipped to use them now, though many have not as of yet.
Originally Posted By: SeaJay
Originally Posted By: edwardh1
will gas pumps be required to switch over to the NON swipe credit card terminals?
Who would be requiring that they do this, I'm not sure I understand?
The credit card companies I think.
Originally Posted By: edwardh1
will gas pumps be required to switch over to the NON swipe credit card terminals?
Who would be requiring that they do this, I'm not sure I understand?
The credit card companies I think.
Switching to chipped cards has been spotty here. My first card from Chase was faulty. A lot of retailers are still using the old way. I don't use debit cards. I keep too much money in my checking account from time to time. Way too risky... I've had my cc # stolen two years in a row on vacation. Chase caught it both times.
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