Topic: Chip Cards

A theory from the Organic Prepper suggests that the global push to ban plastic straws, bags, and bottles is a psychological operation to make the public "fed up" with plastic. The ultimate goal, according to the theory, is to transition society away from plastic credit cards and toward implanted RFID chips. The hosts discuss the environmental impact of plastic versus the potential for corporate leveraging of the "green" movement.

The transition to the iPhone 7 is noted for its significant speed improvements and better radio support for T-Mobile's LTE frequencies. However, Apple CEO Tim Cook's stated goal to "kill cash" through Apple Pay is criticized as an attempt to position the company as a middleman in every transaction. The discussion also touched on the frustration of slow EMV chip card readers and the lack of actual security provided by the new payment standards.

American credit cards equipped with chips are failing to utilize the standard PIN security protocol in Europe, instead defaulting to a signature-based system. Furthermore, European point-of-sale terminals are offering dynamic currency conversion that applies unfavorable exchange rates to unsuspecting American travelers.

President Obama signed an executive order to improve the security of consumer financial transactions, which the hosts interpret as a government-funded bailout for banks. The order mandates a transition to "chip and pin" technology for government payment terminals, including the 44 million EBT cards processed by major banks like JPMorgan Chase.

President Obama signed Executive Order 13681, ostensibly to improve the security of consumer financial transactions. The analysis argues this is a hidden bailout for banks, as it mandates the government-funded upgrade of payment terminals to "chip and pin" technology, specifically for the EBT and Social Security systems.

Adam Curry describes his trip to Rotterdam, noting its modern architecture and the high cost of the RFID-equipped transit cards. He observes that a large portion of the population appears to be Muslim and non-Dutch speaking, leading to a feeling of cultural displacement in the city.

The United States lags behind Europe in adopting the more secure Chip-and-PIN (EMV) credit card system due to the high cost of upgrading terminals and cards. Banks currently treat the $5 billion in annual fraud as a cost of doing business, which is significantly lower than the $50 billion they collect in fees. The lack of consumer liability in the U.S. further disincentivizes banks from investing in better security technology.

Adam Curry reports that many European retailers, particularly in the Netherlands, have stopped accepting American magnetic stripe credit cards in favor of "Pin" or Chip and PIN technology. He notes that some stores now refuse cash entirely, creating significant hurdles for American tourists whose banks have not yet adopted the digital chip standard.

Dutch authorities in Rotterdam and Amsterdam are implementing mandatory RFID chip cards for public transport as of August 27, 2009. Political discussions in the Netherlands have surfaced regarding the potential for chipping "troublemakers" to track their movements following a violent beach party incident. Concerns are raised about the transition to a cashless society as schools begin using these cards for student meal purchases.