The chip card "ultimately makes sense for the United States, but rushing its implementation would be a mistake, " Mr. Ditzion said.
Visa and several large banks are testing mobile-payment programs that allow consumers to make contact-less payments with an existing smartphone equipped with a special chip card and antenna.
As in Europe, where no transaction can happen without a PIN code and a smart (chip) card.
FORBES: An European In New York - A Story Of Convenience Versus Security
Dorsey was probably wise to do that because the technical requirements for accepting payment from a chip-card are very different.
It is always a good idea to have a backup card available, or use a chip and PIN prepaid card.
FORBES: How to Avoid ATM and Credit Card Scams When Traveling
The ExxonMobile Smart Card, a chip-embedded gas-only card that is coming out later this year, will allow card holders to earn a six-cents-per-gallon credit on up to 100 gallons in each billing cycle.
Broadcom's quad-combo chip and single card solution are now sampling with early access customers, with full production expected in Q1 2013.
If the bank authorises the chip and pin card to be used with a signature rather than a PIN number the bank and not the retailer will be liable for any loss.
So we've gone for a Visa debit card with chip and pin instead.
BBC: NEWS | Programmes | Moneybox | Bank current accounts challenge
In Moscow old-age pensioners carry a chip-based smart card from Visa that acts as a subway pass and id card and affords them discounts at pharmacies.
The problem is that many foreign countries have adopted credit card microprocessor chip technology, which has only just started to be rolled out in the United States.
Drives shriveled down to desk size, then to desktop size, then the size of a fat dictionary, followed by a thin paperback, a deck of cards and now just a single card or chip.
Unlike the iPhone, the Z10 will allow you to expand storage with a microSD card, and it sports a chip letting the phone act as a credit card at some payment terminals and share data wirelessly when tapped against some other phones.
Paying by card on a chip and pin is commonplace all over Europe.
Researchers at the Black Hat conference showed just what mischief a commonly used UK PoS terminal could get up to when they inserted a chip-and-pin card crafted with malicious code.
ENGADGET: Security experts hack payment terminals to steal credit card info, play games
In the Birmingham raid, police discovered chip-and-pin terminals, card account numbers, a card writer and computer software.
If your phone is compatible, you'll need to decide whether you want to get your phone unlocked so that it can accept a local SIM card -- the ID chip that carries your local phone number.
Cell phones function much like debit cards in that they use a data chip (in this case, a SIM card) to store balances and enable withdrawals.
The "smart card, " packing an electronic chip, can store everything found in a wallet or purse, a hospital record, a family tree, a university transcript - indeed, much of the detail that points to who a person is.
Broadcom also announced a single card solution combining its 5G WiFi combo chip with its industry-leading standalone NFC.
PC, funds or travel tickets can be downloaded to the chip without the need for a special smart-card reader.
Rather than carrying a wallet, users could wave their wrists and pay for coffee at Starbucks (now, even, without a NFC chip) or use their iWatch as a credit card.
Missing from the often-cited standards are specific references to many technologies that the security industry has long been pushing card companies to adopt: EMV (Chip and PIN), End-to-End (E2E) encryption, tokenization and virtualization.
FORBES: Payment Card Industry Punts On Key Security Questions
When the card is inserted into a reader, the chip checks that the fragments are present and undamaged, and if so returns an identification code.
The model 70CT, with a port replicator, includes a 120-MHz Pentium MMX chip, a 1.5GB hard drive, and PC Card slots.
Since then, most European nations as well as Japan and Canada have adopted this so-called EMV international credit card standard and abandoned magnetic stripe credit cards for chip-and-pin cards in the process.
FORBES: Have We Seen The Last Of Credit Cards As We Know Them?
It will require an app-specific PIN and in the first release, all payment card credentials will be encrypted and stored on a chip, called the secure element, that is separate from the Android device memory and is only accessible by authorized programs.
ENGADGET: Google Wallet mobile payment service, Google Offers announced
Tim Hortons' new all-in-one PIN pad technology supports all methods of payment on one device, including chip and pin, tap and swipe payments for acceptance of Tim Card, debit cards, credit cards and now mobile payments.
While the quad-combo will drive adoption in mass market devices, the single solution on a card integrates the industry's first 5G WiFi combo chip with the BCM20793 NFC chip, raising the performance bar for high-end smartphones and tablets.
应用推荐