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The CVM logic works fine, you can restrict the usage of a particular method to certain terminal types i.e. unattended cash, purchase with cashback etc.

EMV allows it, whether or not card schemes do is a different matter...

I didn't realise cards were issued in the US with no ATM access...you learn something new everyday.....

Its the mag stripe that is the weak link not the chip. The cloning, as you rightly point out, is the mag not the chip so how can Chip & PIN make this situation worse? Once Chip is accepted everywhere or (as UK banks are doing) mag stripe transactions declined the problem diminishes. Not saying it goes completely as it won't, there will always be a weak link somewhere for fraudsters to exploit, all we can do is try to make it as difficult and costly for them to do so as possible.

PIN is not always required for low value transactions. PayPass and Visa Paywave are designed for low value no CVM transactions.

I’m not a banker, I have been called many things in my life but never a banker…I'm just an interested observer

Whilst contemplating the impact of the current financial crisis on my personal circumstances I can’t help but think this is in part the legacy of Blair and Bush.
There other great legacy for the world is their ill thought ‘War on Terror’.
Is it too simplistic to say one problem caused the other (indirectly) and that the removal of one of these problems would remove the other?

According to the BBC the costs to the US of the ‘war’ in Iraq are:

Direct costs: $750bn
Future direct costs: c$500bn
Cost of US casualties: $600bn
Losses to economy: $400bn
Added interest: $600bn
Macro-economic impact:
$1-$2 trillion

Blair and Bush spent the last years in office focussing their attentions on ‘war’ and spending a vast fortune on killing innocent people. Would the world economy be in the state that it is if a) they focussed more on problems at home and b) they hadn’t wasted trillions of £/$ on this personal crusade?
Rather than spending trillions destroying two countries they could have spent a few on aiding the economy. How many $700bn bail outs could you get from $2trillion??

Is the world in a better state today than it was 6/7 years ago?

Are they to blame?

Just a thought

p.s. when is the last time you heard reference to Iraq on the news? I assume its all gone peaceful over there at the moment…

Hi,

For an 'uplifting' story just look at tennis! Possibly the only sport where women are now paid more (per point/minute/hour of play) than men!

I am in no way speaking against equal pay and equality - quite the opposite...

http://www.emvco.com/specifications.asp?show=31

If they are too old to remember their PIN they will be too old to remember to contact their bank to block/unblock their card.

Opinions are great, thats exactly why I read these blogs, its just a tad frustrating when all the blog refers to is the solution that a given company owns. Generally these are held up as the solution to end the worlds ill's but rarely (never) has anything been posted to substantiate these claims.

Read anything with the word mobile in it and you'll see my point.

Marite,

The first EMV spec was EMV 3.1.1 or EMV96 after the year it was published, not 1999.

Chip & Pin secures internet and MOTO by using CAP.

Of cardholders are stupid enough to write down their Pins are they going to be intelligent enough to use your system and remember to block/unblock their card?

I'm not here to sell a product just to look at the basic facts, you seem to be missing a few in the pursuit of leads....

Marite,

SDA is vulnerable you are correct, not as vulnerable as the Magnetic stripe though. In the ideal world all transactions would be Online but at the moment that is not the case due to telecoms costs and reliability in remote areas. For this reason the Chip (even with SDA vulnerabilities) is a much better option than a mag stripe. Why would a fraudster waste time and money to hack a Chip when they copy the mag stripe so easily?

There have been alot of articles on here over the last week about the weaknesses of Chip & PIN. I have yet to see one though that actually points to the Chip being compromised. The articles I have read all point to Mag Stripe & PIN fraud being committed.

The weakness is the legacy mag stripe, not the Chip. If there is proof out there that the EMV Chip has been 'hacked' and used for fraud I would appreciate the link...