7 years ago
4
Home Depot sues Visa, MasterCard as PIN battle looms
Among a bevy of grievances, the do-it-yourself retailer posits that Visa and MasterCard sought to block the adoption of chip-and-PIN on credit card transactions.
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The US is the only place in the world that still uses checks and signature-based credit cards. Someone needs to tell American banks that we're not in the mid-20th century anymore.
Most major companies that still take checks actually take e-checks, they are run though a machine that debits the account immediately and are usually given back to you with void written on them. Basically they are paper debit cards you throw away. Not all places, but around here they are
As for the signatures, that's because the card companies lobbied saying it would be too much of a burden on the consumer to learn pin numbers for all cards or some such crap.
But it's ok to make us remember complicated passwords to log in to their sites. Makes sense.
Exactly what I was thinking.