Kate Fazzini

speaker

35 appearances 1 recordings 1 series first heard Aug 2017 last heard Aug 2017

Kate Fazzini’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · Chase Axes Instant Debit Card Replacement · 9 Aug 2017 podcast

So there's a very delicate balance that the banks are trying to make here.

In the past 15 years, we've seen a really big rise in the popularity of debit cards, and that is just seeming to continue.

The Federal Reserve has some statistics on this, and

The use of debit cards has far outshined the use of checks and credit cards in the past several years.

So, obviously, this is a product that is really popular with consumers.

It'll take time to see if the mobile products, having the card on your phone...

Absolutely.

I think we can talk a little bit about actually the chip technology that has been put into the cards to help with fraud.

I think a lot of consumers might not realize that that chip technology is it's mainly to help.

keep that information from being stored at the retailer itself.

So when a store is hacked, your number isn't going to show up in the cache of data that the hacker receives.

However, if somebody steals your debit card, there's no additional safeguard provided by that chip.

and not credit that you can wait to have to pay back.

So debit fraud, huge issue, and people use their debit cards everywhere.

Thank you.

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