09 May, 2011
Chip Card
I went to New World this afternoon to check my PIN for the new Credit card working properly. As I had an unpleasant happening on last Friday at the branch, I decided to check the card with a manned checkout so I do not need to recover my card from ATM.
However I was a bit surprised when I swiped the card through the EFTPOS and found it did not work at all. And then I noticed they have upgraded the checkout terminal with chip card type and my card is also come with the chip, I had to 'dip' my card into the terminal, instead of swiping it. After dipping the card to the slot I left the card in the terminal for the whole transaction and there appeared a "remove your card" sign when the transaction was complete.
It's a wee bit hassle compare to the swiping method but they say a chip card is more secure than a card with just a magnetic stripe on the back, because it is more difficult for someone to fraudulently copy the card. But I think my card has both a chip and a magnetic stripe at the same time, a fraudster does not need to copy the information off the chip but from the stripe.
Anyway it was a refreshing experience to use a chip card for the first time in my life.
Labels:
ECONOMICS/FINANCE,
SCI/TECH