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August 10, 2016
The second reason it takes four days to check out at CVS is because they’re now forcing us to use that little computer chip on the credit card.
Posted by gerardvanderleun at August 10, 2016 10:25 AM. This is an entry on the sideblog of American Digest: Check it out.
Your Say
As far as the chip readers, thank your local thieves for the new, slower technology.
Try being a vendor who after opting out of getting a new chip reading credit card processor, since I rarely get walk-in business, was told a couple months later that my old machine wouldn’t be “supported” and I had to pony up over six hundred for a new one. Good times.
BTW, we vendors get charged @ 3.5% or more per transaction.
tim
Posted by: Lands’nGrooves at August 10, 2016 11:53 AM
There's nothing biometric about most chip cards. If there were, you'd have to also give a fingerprint scan or something in addition to your PIN or signature. Don't laugh, some "experts" are proposing it.
The long wait time is explained in that there is a teeny, tiny CPU (i.e. computer) inside the chip card. See those gold-plated contacts on the card's front? Those signals are how the card's CPU talks to the outside world. And yes, that little CPU is asked to perform a complex cryptographic function when you make the transaction. The time you are waiting is a combination of the time it takes the card to perform that long calculation and the time it takes for the card's computer to have a long distance chit-chat with the financial system on the far end.
Posted by: Grizzly at August 10, 2016 6:44 PM
A lot to be said for cash.
Posted by: pbird at August 11, 2016 9:27 AM
Yup, and cash keeps the Gummint's nose out of your biddness.
Posted by: Vermont Woodchuck at August 12, 2016 5:34 AM