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|I Am Skooter|
So here's us, on the raggedy edge.
The Smart car has made it’s way over from Europe, but the smart card has not. Given the highly centralized nature of Canada’s banking community, this is surprising.
From Edge magazine (bundled for a while with the Globe and Mail, as I recall) in May of 2004.
the [Royal Bank’s] Avion card with chip technology has been launched to an established client base that travels overseas where the technology to read the chips already exists, says Sean Amato-Gauci, director, card product development RBC Royal Bank.
According to the Canadian Bankers Association, in 2002 VISA and Mastercard wrote off more than $128 million in fraudulent credit card accounts and 136,500 cards were used fraudulently.
Studies show that in the first year chip cards were issued in France, card fraud was reduced by 50 percent.
This was five years ago, and not much has changed.