A New York Times article earlier this month described the plight of two tourists in Paris attempting to rent bikes. The automated rental kiosk would not take any of their credit cards. The reason? Their cards—and all U.S.-issued cards—do not have the microprocessor chip now used in credit cards throughout Europe. These chip-based cards work in combination with a personal identification number rather than using the swipe-and-sign system that's been universal up until now. The "chip-and-PIN" ...

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