If the US would switch to chip and pin then all those countries that already use chip and pin can turn off the magnetic strip by default. Right now they need to leave it on as the US is common travel destination.
Chip and pin isn't 100% secure either but it would stop a large number of skimmers.
If you don't travel and you live in a country with chip and pin have your bank disable your magnetic stripe. Even if someone were to skim your card the bank will not authorize a transaction via magnetic stripe.
Chip and pin pushes more burden onto the consumer. I am well protected now with mag stripe - why would I want to place more of a burden on myself to keep a PIN safe when the law currently protects me for unauthorized charges?
Indeed. As a US resident I have never had a chip and pin style card. Every merchant around fully accepts magstripe only, and PIN needed for cash withdrawals.
You have to get a specialized "foreign traveler" credit card. My coworker got one from BoA since we work for a Montreal based company and travel up a few times a year.
If the US would switch to chip and pin then all those countries that already use chip and pin can turn off the magnetic strip by default. Right now they need to leave it on as the US is common travel destination.
Chip and pin isn't 100% secure either but it would stop a large number of skimmers.
If you don't travel and you live in a country with chip and pin have your bank disable your magnetic stripe. Even if someone were to skim your card the bank will not authorize a transaction via magnetic stripe.