Chip and PIN - downright too slow

Of late more and more retailers are having their the debit/credit card readers to accept only using Chip and PIN; whilst I do fully understand the enhanced security it offers; I guess its too slow and downright ridiculous. I do most of my purchases in Grocery stores where they often have self check out machines. I am a big fan of SCO however when it comes to payment; I simply would love to swipe and go; however since most of my Credit cards come with Chip I am forced to use that; thus adding easily another 60 - 90 seconds to my check out process. Also during this time the last four digits of my card and my expiry date on the card are exposed in an upright position. I think this is poor design and most of our cards vary mostly with the last 4 or last 8 digits. Also I notice there are inconsistencies in acceptance; while there could be a grocer who can just accept by swipe even though the machine has chip reader in it.

Why cant the retailers and the payment system work in standardizing the acceptance of chip; the mechanisms of notifying what to use and finally enhance the speed to authenticate the transaction.

I would any day move to NFC based payments such as mobile wallet using ISIS or Google Wallet.

What are your thoughts?

Priya Mishra

Public Speaker| Global B2B Conference Organizer of our flagship event | Management Consultant | Corporate Strategy | Solution Provider | Business Process Enthusiast

2 年

Ramesh, thanks for sharing!

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Chetan JB Pal

Head of IT and Information Systems @ Avirata Defence Systems | Digital Transformation | Automation | AI | Architect | Application Development | Agentic AI | Entrepreneur

10 年

Chip and Pin is so 2010, UK has moved on to Contactless Payments https://www.visa.co.uk/products/visa-contactless/

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