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Things You May Not Know About Finance And Credit

images (64)The way that finance and credit are managed in other nations can be amazingly different from how it’s managed here in the US. Read on for some surprising facts about credit and money in other areas of the world:

If you go to European countries, your favorite credit cards may not work. In Norway, you need to enter a PIN for all credit cards dealings. In other areas of European countries, credit cards are now implanted with EMV chips for protection.

Throughout the African continent, ATM owners and merchants are held economically responsible for fraud. (In the US, the credit cards provider is the one that’s left, lawfully, holding the bag.) As a result, 77% of credit cards systems on that region require the extra protection of EMV chips.

In Tanzania and Kenya, most minimal financing dealings don’t go through a bank. They are managed with a cellular program called M-Pesa that is run by the countries’ two largest cell phone providers.

Chances are that People in America lag in economical knowledge. The Organization for Economic Collaboration and Development has started testing 15-year-old’s to find out how much, on regular, kids from each country know. The results of the economical knowledge test won’t be out until later this year; however, US ratings are currently below average in mathematical, which tends to link with ratings in economical knowledge.

In Scotland, North Ireland and Wales, mathematical teachers are required to have units on economical literacy in their classes. Australia and England will be adding this requirement to their program as well starting with the 2014 school season.

A new US company, COIN, is hiring customers for the release of a digital credit card wallet. The new program will be an alternative for the eight or more credit cards most People in america carry every day.

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