Re: IP: Smart Cards with Chips encouraged

[Steven M. Bellovin]

In message <v04210104b40d7088a106@[24.218.56.100]>, Arnold Reinhold writes:

> And what is the value proposition for the consumer? SSL works swell.

Bingo.  Consumers will adopt this if and only if cost savings are passed on to 
them, which in turn can only happen if the credit card companies (a) see a 
reduction in fraud or other decrease in their costs, and (b) pass those 
reductions on to the merchant.

                --Steve Bellovin