“Chip” cards

Both of my credit cards now have “chip” technology, which is apparently where the future lies.   It seems, however, that US banks have been a bit slow adopting this.  In fact, the magnetic strip is described in that link as “antiquated magnetic-stripe technology”.

So Australian banks are right up there, aren’t they? Well, no.  I received a new debit card to operate one of my accounts just a day or so ago, and guess what?   No chip in sight!    The card only has a magnetic strip, even though it has just arrived and won’t expire until 2018.   Yes, it can be used in the Maestro and Cirrus networks to access (in theory) my account from overseas, but I certainly won’t be relying on it as my primary  source of funds.

IMG_5645But at least we’re ahead of the Americans when it comes to PINs on credit cards.  Apparently there’s some way to go before PINs are universally adopted in the US (although admittedly this article dates from 2014).


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