So I don’t opt in to any of them….”Īdmitadly the “what’s in it for me” factor does come into play, it was one of the things that killed off the first major attempt to sort out online CC transactions (Anybody remember EVM’s Secure Electronic Transactions and the thousand odd pages of ASN1 etc documentation?) “If i use any of the extra security features on my master card. Tags: authentication, cost-benefit analysis, credit cards, economics of security, passwords, PINs, smart cards, two-factor authentication Certainly better than that three-digit code printed on the back of cards these days.Īccording to the article, Visa will be testing this card in 2009 in the UK.ĮDITED TO ADD (12/6): Several commenters point out that banks in the Netherlands have had a similar system for years. The efficacy of this countermeasure depends a lot on how much these new credit cards cost versus the amount of this type of fraud that happens, but in general it seems like a really good idea. The idea is that this cuts down on card-not-present credit card fraud. The article doesn’t say if the code is time-based or just sequence-based, but in either case the credit card company will be able to verify it remotely. The idea is that the user enters his PIN every time he makes an online purchase, and enters the one-time code on the screen into the webform. This is a nifty little device: a credit card with an onboard one-time password generator.
TOKEN BLUETOOTH CREDIT CARD READER GENERATOR
Credit Card with One-Time Password Generator
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