Chips aren't anymore secure, I can read the data off my card with a standard chip reader, and I have. The same data on the chip is on the mag strip.
Just because you are using the chip doesn't mean you are doing an EMV transaction. The unique transaction codes only happen with and EMV transaction, almost every time you dip your card it's a regular old card transaction, just as if you swiped the card. Why?
Getting EMV certified requires every part of the transaction chain to go through unified system testing, for each combination of hardware, software, card type, processor, issuing bank.
I've been eyeballs deep in this nonsense for the last year or so. We just can't justify the expense of getting EMV certified, so we just accept the chip and do a regular transaction.
As a consumer you have no way of knowing if your transaction is and EMV transaction or just a chip enabled regular transaction.
Just because you are using the chip doesn't mean you are doing an EMV transaction. The unique transaction codes only happen with and EMV transaction, almost every time you dip your card it's a regular old card transaction, just as if you swiped the card. Why?
Getting EMV certified requires every part of the transaction chain to go through unified system testing, for each combination of hardware, software, card type, processor, issuing bank.
I've been eyeballs deep in this nonsense for the last year or so. We just can't justify the expense of getting EMV certified, so we just accept the chip and do a regular transaction.
As a consumer you have no way of knowing if your transaction is and EMV transaction or just a chip enabled regular transaction.