Chipping off credit card fraud in Canada

We knew it was coming; nobody knew when. The Toronto Star is carrying a story about an announcement from Visa Canada and Moneris (payment processor): Visa card with chip fights fraud. Rather than comment, here are a few excerpts:

Canada's largest credit card processor says it will start rolling out machines that can read microchip-based credit cards on July 11, the first step in revolutionizing the consumer's wallet.

. . . Moneris announced that it would provide dozens of retailers with the readers in July. . . . It will be another year before Visa Canada starts issuing cards with chips, however. . . . The rollout will take three to five years, [Visa Canada president, Derek] Fry said, as credit cards expire and are replaced with chip cards and card readers are replaced.

Digital identity gets a boosts right in the wallet.

All of which is great except -- again -- how will it all fit together with integrity?

Posted by Grayson at June 28, 2005 07:49 AM