Daniel DeLuca
4/7/12
M.I.S HW 8
The article that I read
was entitled “MasterCard, Visa Moving U.S. Credit Cards to 'Chip-and-PIN' by
2013” which was written by Mark Hachman. In this article the author discusses
how MasterCard is now following in Visa’s footsteps by getting their credit
card on the EMV system. This system is being used all over the world, so once
we in America start using it, it will allow global travelers to be familiar with
one system of payment. The way it works is when you slide your credit card you
then have to enter a 4 digit pin number for approval. Also in the article the
author describes how MasterCard is also working on ways to make it easier for a
customer to purchase items. For example if they went into a store they could
enter their credit card through a mobile device then have purchased the item
and take it with them. MasterCard is really innovating its ways to help us consumers;
"We're moving toward a world beyond plastic, where consumers will shop and
pay in a way that best fits their needs and lifestyles with a simple tap, click
or touch in-store, online or on a mobile device," (Hachman). After reading
this article I am really excited to see the new changes that are coming for our
feature. Since I don’t have a personal credit card now I think its going to be
very exciting to have a new system where perhaps I can go into a store purchase
an item on my phone and not even have to sit in some type of line. However I do
feel that this technology is not down the road for there seems to me that there
would be a lot of security risk by having that type of system. In regards to
the beginning of the article I do like the fact that they are switching to this
EMV system. I think that biggest thing will be the addition of the pin. This
should drastically decrease credit card fraud considering now all you have to
do is slide a care, then sign someone’s name to it. This new feature should
make things much more safe when people use credit cards.
I really like your thoughts on MasterCard, I myself have a MasterCard and I find it very sketchy giving my four-digit number out to people or typing it out in front of people. I feel that if this works not only will it make it more secure it will make it easier like you said. Just being able to walk into a store and your items already be waiting for you, how much easier can it get…even though it may sound like a good idea I think there will be some very big setback before it is actually released. After all said and done your article was very informative, I think it’s pretty cool the way you can handle your shopping over the phone or via internet. Keep up the good work.
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