Seems like it would cut down on a large chunk of credit card theft.

So why don’t we have to type in a PIN for the transaction??

It's an excellent question, because in Europe (at least in France), it's exactly what they do and have for probably at least a decade.

Simple answer: dumb assed banks lobbied congress for the idiotic chip + signature instead of chip + pin

When I was living in Canada, they had chip + pin before I arrived and that was well before US went to credit cards with chips. Canada's chip + pin meant that restaurants had handheld credit card machine the server brought to your table and your card never left your sight. In other words, not only was the pin more secure but it came with the benefit of the credit card not leaving your sight (i.e. eliminated servers taking pictures of cards to sell or having skimmers). I was floored when the US went with the chip + signature as the signature is a useless security measure.

With Apple Pay face recognition is required. Much more secure than a PIN.

quote:

Originally posted by Pipe Smoker:
With Apple Pay face recognition is required. Much more secure than a PIN.

Not it’s not. I use Apple Pay quite frequently and do not use face recognition. While Apple Pay is quite secure not everywhere accepts it.

And that’s Apple not the CC companies. Why don’t the CC require a pin?

^^^^^
I leave my physical Well Fargo credit card in a safe place at home. I make credit card payments to merchants via Apple Pay with my iPhone, and that requires face recognition. A very secure process.

You’re claiming I could do that without face recognition? Please explain yourself.

The banks have little incentive to stop fraud since they use fraud as a pretext to charge usurious interest. They profit orders of magnitude more from interest than they lose from fraud.

quote:

Originally posted by Pipe Smoker:
^^^^^
I leave my physical Well Fargo credit card in a safe place at home. I make credit card payments to merchants via Apple Pay with my iPhone, and that requires face recognition. A very secure process.

You’re claiming I could do that without face recognition? Please explain yourself.

Yup. My phone has no facial recognition capabilities and I use Apple Pay daily.
Folks also use their Apple Watches to use Apple Pay all day long and the Apple Watch also does not have facial recognition.

The iPhone and watch are unlocked when in use. To unlock these devices, you can choose to have a PIN or facial recognition.

Or fingerprint.

Beware that criminals watch for people entering a pin into their phone. Then they steal the phone, unlock it with the pin, and immediately change the appleid. Now the owner can't remotely lock the phone. The crook then uses the phone to access the owner's banking etc.

Credit cards are designed to be super convenient, and adding a PIN step would slow things down. Plus, the card companies have other security measures like fraud detection and zero-liability policies to protect you.

^^^I'm thinking the 'PIN step' would be MUCH faster and therefore 'super convenient' vs a signature!

A lot of people write down the pin on the card signature strip.

A lot of people are Stupid...At least 50% of the population by most conservative estimates!

quote:

Originally posted by nhracecraft:
^^^I'm thinking the 'PIN step' would be MUCH faster and therefore 'super convenient' vs a signature!

Or the time it takes to cancel your credit card and switch certain payments to the new card and wait 7 days for the replacement card when it does get stolen.

My work card is configured for a PIN. Call your provider as you may be able to enable it. No issues using it here in the US. Management did it to make it work better overseas.