On 26 November 2011 23:14, Rony
<gnulinuxist(a)gmail.com> wrote:
Nowadays certain 'Big...' shopping malls
do not accept debit cards which
have PIN codes. They want cards that can be swiped without any PIN
authentication. This is a security risk if the card is stolen. It is
simply hard cash in the thief's hand. I use netbanking only to pay bills.
Are
you talking of the "Chip and Pin" cards? As far as I know, they
are not mandatory in India, and the PoS devices required for them are
still not available. Anyway researchers have proved that despite all
the claims by the banks, they aren't any better. See, for example:
http://www.theregister.co.uk/2010/02/12/chip_pin_security_unpicked/
All these cards do is to allow the banks to blame the consumers for
everything. A sort of risk transfer. :-)
Also remember, if a store displays the Visa logo and does not accept a
card with the same logo, you can complain to Visa. This can
potentially lead to the store being fined heavily and its merchant
status cancelled.
The regular ATM cum debit cards. They have a PIN and the Big... malls
say that their device is not working for PIN type cards and say they
want PIN less ones. You have to spend half an hour trying to make a
payment in these malls and finally go to the ATM to withdraw cash as
their swiping devices don't work for PIN cards.
--
Freedom is a shared resource. Take some, leave the rest for others.
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Post your replies below the relevant original text, leaving a line space.
Regards,
Rony.