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Chip Cards Will Require Users to Dip Rather Than Swipe

01. In the hustle and rush of New York, some diners

02. at the Stage
Door Deli in Manhattan may not
03. even notice the extra three or four seconds it
04. takes to buy their lunch. To pay for their Reuben
05. sandwiches and tuna melts, customers with a
06. small metallic square on the front of their charge
07. cards - an increasingly common fraud-prevention

44. Credit and debit cards without chips will continue

45. to work until they expire, or until consumers
46. activate their new cards. And they will still work at
47. payment terminals that have been updated to
48. accommodate chips. But new machines will
49. prompt users who swipe a chip card to dip it
50. instead. You should always use the chip device,

08. chip - will have to dip instead of swipe. For

09. several seconds, slightly longer than most
10. people may be used to, cards are inserted and
11. left in the cashiers payment terminal, which
12. uses the chip to determine whether the card is
13. legitimate.
14. Kennet Westby, the president of the security

51. not the swipe device, said Ed Mierzwinski, the

52. consumer program director of U.S. PIRG, the
53. federation of state public interest groups.
54. The new chip is intended to make in-person
55. purchases safer, and, in a matter of seconds,
56. works as follows: During each transaction, the chip
57. creates a one-time code. The payment terminal

15. firm Coalfire, acknowledged it was likely to be a

16. pain for consumers initially. What weve
17. become very accustomed to as consumers is
18. quick credit card transactions. The change from
19. a swipe to a dip may be the only sign many
20. consumers have of an enormous behind-the-
21. scenes shift in the payment industry, as banks

58. then sends the code to the bank over a network

59. like Visa or MasterCard. The bank matches it to an
60. identical one-time code and sends verification back
61. to the terminal.
62. European consumers and retailers have used the
63. chip system for years, and it is commonly referred
64. to as E.M.V., which stands for Europay, MasterCard

22. and retailers tussle over who should be blamed

23. for fraud.
24. On Thursday, merchants who cannot process
25. chip-enabled cards could become liable for
26. fraudulent transactions at their stores.
27. MasterCard and Visa set the deadline for the
28. new rules, which are part of their agreements

65. and Visa, the technologys early advocates.

66.
67. The industry says chip cards are safer because they
68. cannot be duplicated as effectively or as easily as a
69. magnetic stripe. That means criminals will have a
70. tougher time making counterfeit cards using
71. stolen data. With the older cards that do not have

29. with the retailers and banks that use their

30. networks. American Express will shift liability on
31. Oct. 16. Consumers, however, will not be caught
32. in the middle. Federal law requires banks to
33. reimburse consumers for different types of
34. fraud. The only difference is that, come
35. Thursday, banks could go after retailers that

72. a chip, anyone can buy the equipment and in a

73. matter of hours be proficient in creating
74. fraudulent cards, Mr. Westby said.
75. Still, the retail industry and some consumer
76. advocates say that banks and payment networks
77. could do more to prevent fraud. Having a chip and
78. a four-digit pin, as many European merchants are

36. have not properly updated their equipment.

37. Not everyone will have chip-enabled cards by the
38. deadline. While most customers at the big banks
39. like JPMorgan Chase and Bank of America will
40. receive their cards by the end of the year, some
41. will not get new cards until 2016. Some issuers
42. will also wait until customers existing cards are
43. close to expiring.

79. accustomed to, would help validate both the card

80. and the person using it. Most of the new chip
81. cards in the United States will require only a
82. signature.

SOURCE: <http://www.nytimes.com/2015/09/29/business/chip-cards-will-require-users-to-dip-rather-than-swipe.html> . Access on October 6, 2015.