How is EMV chip safer?

[Skye12329]

My CSP card just arrived and i must say its heavy, like i didnt think it was going to be so heavy. (Just so excited) Turns out it did require a signature luckily i got to my front apartment complex door in time because UPS just got there too. (My buzzer system doesnt work)

My question: How is this technology safer? I understand its supposed to be chip and signature but what makes it safer? Because isnt it like a regular signature then? I can understand chip and pin because that would be like a debit card basically needing a pin. 

[trumpet-205]

Because it is fundamentally different than magnetic strip. Magnetic strip contains you credit card info in plaintext. It can be copied and use as is.

EMV chip is actually a mini-sized computer. When you insert it into the terminal they communicate with each other using encryption (so no one should be able to listen in or copy).

[Skye12329]

Thanks! Now i have a random question, why are the logos for Visa like a dove or eagle like symbol and MC is a world? Just curious if anyone knew.

[juggalo9er]

yes chip and pin is very secure, i could duplicate it myself!

http://thehackernews.com/2014/05/pre-play-vulnerability-allows-chip-and.html

[trumpet-205]

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@Skye12329 wrote:
Thanks! Now i have a random question, why are the logos for Visa like a dove or eagle like symbol and MC is a world? Just curious if anyone knew.

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It is a security feature in attempt to distinguish between real and cloned card. The idea is you to hand the card to cashiers and they look for this feature plus cross checking signature you signed on the back of the card and on the receipt.

In reality it doesn't work because,

* Most cashier won't ask you to hand over the card.

* Professional thief have the equipment stamp these fake holograms onto cloned card.

[Skye12329]

Oh yeah it would never work. Maybe it did back when it was first started but yeah cashiers never get my cards.

[trumpet-205]

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@juggalo9er wrote:

yes chip and pin is very secure, i could duplicate it myself!

http://thehackernews.com/2014/05/pre-play-vulnerability-allows-chip-and.html

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Please take the time to read the article. It explains that the flaw exists from faulty implementation, not faulty EMV specification.

Also, all EMV attack that researchers came up with either hinges on faulty implementation or compromised terminal. Magnetic strip on the other hand can simply be skimmed without a need of a compromised terminal.

[slicemans]

Anything is better than magnetc strip. Heck even RFID is better mag strip.

[juggalo9er]

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@trumpet-205 wrote:

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@juggalo9er wrote:

yes chip and pin is very secure, i could duplicate it myself!

http://thehackernews.com/2014/05/pre-play-vulnerability-allows-chip-and.html

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Please take the time to read the article. It explains that the flaw exists from faulty implementation, not faulty EMV specification.

Also, all EMV attack that researchers came up with either hinges on faulty implementation or compromised terminal. Magnetic strip on the other hand can simply be skimmed without a need of a compromised terminal.

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your exactly right! on that note nothing in public is ever compromised like wifi,pay per view from cable companies, private security systems, and the list could go on. there is no such thing as complete security as information can always be cloned and compromised. i will agree chip is slightly more secure than magnetic strip but when your starting at close to 0, its not hard to get better!

[keithB]

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@slicemans wrote:

Anything is better than magnetc strip. Heck even RFID is better mag strip.

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But they have both chips and strips, sooooooo.... Where is the safety?  Or am I missing something?