Tour Madrid with MadridMan! BACK TO
MadridMan.com!
Sponsored Links

Topic Options
#47065 - 10/15/03 01:08 PM Smart Chips (credit cards)
ELECTRACITY Offline
Member

Registered: 06/26/02
Posts: 144
Loc: CANADA
I was shocked to see the number of Smart cards in France (and in Spain). My "old" Visa card still has the Magnetic Strip on it. How many of you have cards with the smart chip on it?? Is it common in your part of the world??
_________________________
Vamonos pa'Cadiz!

Top
#47066 - 10/15/03 05:43 PM Re: Smart Chips (credit cards)
Antonio Offline


Executive Member

Registered: 05/07/00
Posts: 1176
Loc: Madrid (Spain)
Smart chip cards in Spain?. They are widely used in payphones but not as debit/credit cards. What's the reason?. Well, there are millions of cards issued and changing cards and ATMs it's very expensive. Therefore, even though magnetic cards are insecure it will take some years before they are fully replaced with the new smart chip ones.

By the way, Spain has one of the highest ratios ATMs/person in the world. That means banks have lots of ATMs to adapt here.
_________________________
The best tips from your favourite hostal in Madrid.
Hostal Chelo at http://www.chelo.com

Top
#47067 - 10/16/03 04:45 PM Re: Smart Chips (credit cards)
ELECTRACITY Offline
Member

Registered: 06/26/02
Posts: 144
Loc: CANADA
Antonio, you are right perdoname (acento en la "o")....I saw this in France. Like Spain, we here in Canada will have to wait a few years before we see the smart chip. In a Paris restaurant, the waitress was surprized to see that my card did NOT have a smart chip.
The chip works all the time (unlike the magnetic strip) and has added security features.
From what I understand, the "chip" is a French invention (i'm not sure of the company) and has proprietary status. As a result they are still expensive for companies to use, but soon all companies will change to the chip. It will replace the magnetic strip just like DVD's are slowly replacing the VHS.
_________________________
Vamonos pa'Cadiz!

Top
#47068 - 10/26/03 11:50 AM Re: Smart Chips (credit cards)
MAD for Madrid Offline
Member

Registered: 06/26/02
Posts: 65
Loc: Madrid
The chip will be required by Visa and MasterCard on all EU credit cards by 2005 as part of anti-fraud measures. But this requirement was just delayed for Spain until 2008 since most Spanish banks were having trouble making the systems and plastics changes on time. It is a HUGE project and expense for banks.

For example, credit cards now typically cost a bank about 1E to issue (i'm talking the piece of plastic only, not all the marketing, postage, and other costs). A credit card with a chip is about 5E - meaning banks costs will go up 5x for just the piece of plastic - not to mention the operational changes required
_________________________
great music: www.benjaminwagner.com
have a listen!

Top
#47069 - 10/27/03 06:21 AM Re: Smart Chips (credit cards)
Eddie Offline
Executive Member

Registered: 06/05/00
Posts: 1713
Loc: Phila., PA, USA
Electracity writes:
Quote:
... The chip works all the time (unlike the magnetic strip) and has added security features.
Those "added security features" will represent a challenge to hi-tech criminals everywhere. Let's see how long it takes some Chinese or Indian 'techie' to figure out those added security features and produce their own counterfeit 'smart cards.'
Quote:
... From what I understand, the "chip" is a French invention (i'm not sure of the company) and has proprietary status. As a result they are still expensive for companies to use, but soon all companies will change to the chip. ...
I don't think that's an imminent threat; but you may soon be able to purchase 'smart cards' with a fixed amount of credit on them (like the Telefonica phone cards) that may be used in places like your Paris Restaurant.

Top

Moderator:  MadridMan 
Welcome to the ALL SPAIN Message Board!
MadridMan's Live WebCam
Shout Box

Newest Members
LauraG, KoolKoala, bookport, Jake S, robertsg
7780 Registered Users
Today's Birthdays
johnny123
Who's Online
1 registered (Joe Markley), 693 Guests and 5 Spiders online.
Key: Admin, Global Mod, Mod
MadridMan.com Base Menu

Other Martin Media Websites: BarcelonaMan.com MadridMan.com Puerta del Sol Plaza Santa Ana Madrid Tours Madrid Apartments