Why is it sometimes you have to sign, sometimes pin, sometimes zip code, sometimes chip, sometimes swipe?
In: Technology
Old style was swipe and verify. Verification could be done with signing, pin, or zip. Still insecure as a scanner could read the magnetic info from the strip to create a duplicate card and use it. The person could easily make up a signature, and the vendor wouldn’t know it wasn’t yours until days afterward if at all.
Chip is the newer style and is more secure. So even if an unscrupulous person were to record the data exchanged during the transaction, it couldn’t be used for future transactions.
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