Nearly 70% of U.S. Consumers Want Their Chip-and-PIN Credit Cards
NEW YORK ( LowCards.com) -- Consumers in the United States are more than willing to transition to chip-and-PIN cards. In fact, a recent survey indicates the majority of Americans are looking forward to the transition, with higher-security cards that contain a computer chip and require the cardholder to enter a PIN.
According to a survey from Vision Critical, 69% of Americans believe EMV chips will make their purchases more secure, since the cards are hard to duplicate and a thief must know the cardholder's PIN to complete a transaction. Only 5% believe the chips will lessen the security on their cards.
Americans are anxious to use chip-based credit cards, but 64% of respondents are more likely to pay in cash rather than credit cards because of recent credit card breaches. Thirty-eight percent said they prefer the idea of chip-and-PIN over chip-and-signature, but there is still a big question about whether people will be willing to use these cards when they are available.
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