It is an embarrassing moment for any diner going to pay and having your credit card declined.
But this is the fate that met President Barack Obama during a recent meal at a New York restaurant.
Speaking at a finance meeting, the politician revealed his card was rejected when he went out for
dinner with his wife, Michelle, during the U.N. General Assembly last month. Instead, Mrs Obama
had to pay. 'I went to a restaurant in New York when I was there during the General Assembly, and
my credit card was rejected,' Obama told employees at the Consumer Financial Protection Bureau
in Washington. 'I guess I don't use it enough, so they thought there was some fraud going on.
Fortunately, Michelle had hers. I was trying to explain to the waitress, you know, I really think I've
been paying my bills.'
Obama, who reportedly owns a JPMorgan credit card, spoke of his card decline while signing an
executive order that aims to make the federal payments system safer for millions of Americans.
Cards issued by the federal government will now have an internal chip replacing magnetic strips to
reduce the potential for fraud, Obama said. It comes amid growing concern over the security of
Americans' financial data, with an estimated 100 million people having been affected by breaches
in the past year. In addition, the government will apply the security chips and personal identification
numbers (PINs) that replace signatures to all existing and newly issued government credit cards,
Meanwhile, payment terminals at federal government facilities will be equipped to handle cards
with the new technology.
Source: Daily Mail