Everyone outside the U.S. use chip-and-PIN credit cards. That we still use magnetic strips explains how the U.S. accounted for half of all fraudulent transactions worldwide in 2012. Come October 2015, we'll get to the worldwide standard:
The switch will cost retailers hundreds of millions of dollars. But credit card companies have pushed for the change for years. Beginning in October 2015, they will start leaning harder on banks and merchants by shifting the legal liability for fraud to the party with the least-sophisticated technology. That will be a powerful incentive for retailers to upgrade their systems.
Those of us who travel internationally for business are already used to the difference between American readers and those used in much of the rest of the world—and the accompanying inconveniences. Many automated machines, which are common at petrol stations and supermarkets, do not accept American swipe-and-sign cards at all. And tell a European cashier that you want to sign for a transaction and you will often be met with a bemused look. For those Americans who don't yet have chip-and-pin cards (and that's most of us, since few banks offered them before last year), the coming change will eliminate that awkwardness once and for all. The bottom line for business travellers: if you're not already using a pin with your credit cards, get used to the idea—and start thinking of a good one.
Yes, one of the annoyances of traveling abroad right now is that when I present my chip-and-sign card overseas, I still have to sign a little chit. My bank says they'll switch to PIN with my next card, coming soon.