@nyancat wrote:
Core, instead of protesting EMV (pointless, as everyone agrees magnetic stripes must die - they're long past their useful life), you should be petitioning more companies to do like Amex, HSBC, and Wells Fargo do - offer dual-interface cards with contactless. Contactless is even faster and easier than swiping, and MUCH more secure.
*sigh* "Everyone" does not agree that mag stripes must die. Are you trying to egg me on so I get suspended yet again? 
But I defer to your technical knowledge of the subject. Wasn't it you who said that in the UK the contactless was only for <=$25 purchases? That won't do. That won't do at all. I don't remember the last time I walked into a store and spent less than $25. That kinda money doesn't go far these days. 25 pounds sterling would go farther. I can see $25 being useful for fast food. Other things, not so much. Fill us in how it will work in the real world based on what you have seen.
@core wrote:
@nyancat wrote:
Core, instead of protesting EMV (pointless, as everyone agrees magnetic stripes must die - they're long past their useful life), you should be petitioning more companies to do like Amex, HSBC, and Wells Fargo do - offer dual-interface cards with contactless. Contactless is even faster and easier than swiping, and MUCH more secure.*sigh* "Everyone" does not agree that mag stripes must die. Are you trying to egg me on so I get suspended yet again?
But I defer to your technical knowledge of the subject. Wasn't it you who said that in the UK the contactless was only for <=$25 purchases? That won't do. That won't do at all. I don't remember the last time I walked into a store and spent less than $25. That kinda money doesn't go far these days. 25 pounds sterling would go farther. I can see $25 being useful for fast food. Other things, not so much. Fill us in how it will work in the real world based on what you have seen.
Correction to my wording - everyone in the banking and payment card industry. Retailers love magnetic stripe due to the technical simplicity and cheap equipment. But it simply isn't feasible to keep using.
In the UK, contactless is different. Contactless cards issued in the US are set to go online wherever feasible, using offline authorisation only when necessary (e.g. public transit). Not all US contactless cards even support offline authorisation (the reason only some US cards work on the tube in London - Amex and HSBC both do work). In the UK, contactless is always an offline proposition (except when the card is used in MSD mode, primarily when travelling to the US). This means contactless is literally instant - tap, authorised. Fastest transactions you can imagine, you'd love it. However, due to this, there are spending limits to cut a bank's loss if the card is physically stolen. Currently these limits are £20 (about $30) per transaction as well as a total number of transactions or amount limit chosen by the bank. The per-transaction limit is going up to £30 in September, and there are rumours of issuing online-authorised cards like in the US that wouldn't have the limit on contactless - they'd just ask PIN above a certain amount (just like in the US you're asked signature above a certain amount).
The issue with these is that the instant nature of contactless would be lost. I can tell you from using my US issued HSBC card some here - at some places it's almost as fast as a British card (just like in the US Target achieves online authorisation almost instantly), but at other places it's painfully slow. Some cashiers wonder what's wrong with their system and I explain US cards are programmed to go online for contactless. But it still has the tap and put away nature you love.