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Why don't we use chip-and-pin technology?
The U.S. has overtaken France as the number one place where fraudsters can convert U.K. credit and debit card details into cash, according to a U.K. banking trade group.
To blame is the absence in the U.S. of "chip-and-pin" technology, where credit and debit cards with an embedded microchip are authenticated with a PIN (personal identification number) during purchases and cash-machine withdrawals, said Jemma Smith, spokeswoman for the Association of Payment Clearing Services (APACS).
http://news.yahoo.com/s/pcworld/2007...1yGw7IRDUE1vAI
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