The online transactions issue is already solved. I've been using the system for at least 5 years or so. BOA calls their system "ShopSafe" and Discover calls it "Secure online Numbers"! Works great. You log into their website, and create a "single use" credit card number that can only be use one time. After it is processed, it will no longer be accepted by the issuing credit card company! BOA even allows you to put a maximum amount, and if the retailer tries to increase the amount, the transaction will be rejected.
MMF > On Dec 25, 2013, at 3:53 AM, Ken Schaefer <[email protected]> wrote: > > Even if your bank issues you with a new chip-n-PIN card, what happens when > you try to use it at a business that only has a magnetic reader? Every shop > PoS system, every ticket vending machine, every soft drink vending machine > needs to be replaced. > > And how is chip-n-PIN going to help you buy something from amazon.com? > > Chip-n-PIN is definitely a step in the right direction. But it is extremely > expensive (most jurisdictions that have adopted it have done so because of > regulator fiat – I’m guessing all the small-government folks on this list > won’t take kindly to that), and even if adopted by every issuer and every > acquirer and every merchant simultaneously, it doesn’t solve every problem > (e.g. online transactions). > > Cheers > Ken > > From: [email protected] [mailto:[email protected]] > On Behalf Of J- P > Sent: Wednesday, 25 December 2013 5:47 PM > To: [email protected] > Subject: RE: [NTSysADM] RE: 40 Million CC breach at Target.... > > Chip and PIN? > http://www.creditcards.com/credit-card-news/outdated-smart-card-chip-pin-1273.php > > Jean-Paul Natola > > > > From: [email protected] > To: [email protected] > Subject: RE: [NTSysADM] RE: 40 Million CC breach at Target.... > Date: Tue, 24 Dec 2013 02:31:32 +0000 > > Your rant presupposes that there isn’t “decent security” already in place. > What evidence do you have that there isn’t? > > Cheers > Ken > > From: [email protected] [mailto:[email protected]] > On Behalf Of J- P > Sent: Tuesday, 24 December 2013 12:43 PM > To: [email protected] > Subject: RE: [NTSysADM] RE: 40 Million CC breach at Target.... > > /rant on > > I have one question that rings in the back of my mind, they (banks creditors > merchants etc..) charge all sorts of fee's, > sometimes i'have heard of fees larger than a bill thats due- > Why cant they take a piece of that to get some decent security into place? > > /rant off >
