Re: The U.S. Credit Card industry *MUST* go to 100% adoption of smart chip cards
Contactless cards / rfid - terrible idea! Yes, more and more US POS terminals are supporting it. The fact that this is considered any way more secure than stripes is unexplainable. A smart chip with cryptographic security cannot be casually cloned. This is why it is the best solution available today.
I will never have a card that uses rfid or any other contactless system. Makes skimming cards even easier.
In answer to previous comments about mom&pops still using imprinting. If as a card user you're comfortable with that it is up to you. The thing with an imprinted card receipt is it is accompanied by a physical signature; so fraudulent charges made in this manner also gain counts of forgery to their charges if they are apprehended.
Just because the credit laws in the U.S. favor the consumer does not mean that the fraud doesn't cost real $$$ - we pay for it with higher fees to the merchants or higher interest rates to the consumer. Nothing is free. The price of changing over to smart chip cards is a fraction of what the losses to credit card fraud are with the current system.
American Express provided smart card readers for use on PCs with the original release of Amex Blue. There is no reason this could not be done again. I much prefer the idea of using a pin protected smart chip to complete a network purchase over manually typing in numbers from the front and back of the card.