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U.S. retailers insist on PIN requirement in smartcard rules

Jaikumar Vijayan | March 10, 2014
Chip without PIN doesn't offer full protection for consumers, they say; Visa, Mastercard argue that PIN isn't needed.

Concerns about the the lack of a PIN requirement are also overstated he said. Currently, under MasterCard's zero-liability policy for instance, consumers are not responsible for any fraud that might result from the misuse of their card.

Craig Shearman, vice president of government affairs public relations at the NRF, Friday insisted that a mandatory PIN requirement for U.S. EMV implementation is needed.

"Right now, chip cards are difficult to counterfeit, but there are ways around the chip," he said.

"And criminals will eventually find a way to counterfeit them," he said noting that the technology has already been in use for more than a decade. "Once they find a way around the chip, if you don't have the PIN the chip card can still be used to commit fraud. So it's not just a matter of stolen physical cards."


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