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igot1forya
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- Jun 27, 2008
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My card was stolen last night - bastards! Hope they enjoy their Valve/Steam purchases they made with my card.
jitpublisher
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- May 16, 2006
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Baloney. Just something else no one needs that the banks can charge for. Multiple accounts on 1 card? So now a scammer (if it can be built, it can be scammed) has info to all my accounts at once? The incentive to steal this information is increased 10 fold. Yeah, we need more great idea's like this one for sure.
radiumburn
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- Aug 31, 2010
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How will the security card work in a restaurant when you just give the card to the waiter/waitress? I'm really sure every single restaurant will love to have every customer come to the swiper to activate it...
joebob2000
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- Sep 20, 2006
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[citation][nom]radiumburn[/nom]How will the security card work in a restaurant when you just give the card to the waiter/waitress? I'm really sure every single restaurant will love to have every customer come to the swiper to activate it...[/citation]
Internationally this has been the exact solution for a long time. Americans take for granted the idea that if you hand your card to a waiter that you can trust him to just swipe it for your bill and give it right back to you. We are old fashioned in that way, I guess. However, in the rest of the world, waiters apparently can't be trusted with this responsibility, and instead are required to use handheld scanners at your table to make the transaction.
Yes, it's fair to say that we are behind the times, but if being "behind" means not having this problem (and we don't have this problem) thanks to being able to look someone in the eye and trust them, then I will gladly be behind the rest of the world.
Internationally this has been the exact solution for a long time. Americans take for granted the idea that if you hand your card to a waiter that you can trust him to just swipe it for your bill and give it right back to you. We are old fashioned in that way, I guess. However, in the rest of the world, waiters apparently can't be trusted with this responsibility, and instead are required to use handheld scanners at your table to make the transaction.
Yes, it's fair to say that we are behind the times, but if being "behind" means not having this problem (and we don't have this problem) thanks to being able to look someone in the eye and trust them, then I will gladly be behind the rest of the world.
Agreed...
It's funny, living in NYC I eat out pretty much every night, and use my credit card pretty much every time, and have been doing this for 15 years.
In all that time the only time my credit card number has ever been taken and scammed, the bank and I tracked it down the culprit to a shady gas station in New Jersey. The bank's fraud detection system noticed their activity pretty much as soon as it happened, contacted me to confirm, then canceled the card - it was really not painful and the schmoe who took the card info got almost nothing out of it materially and likely went under investigation.
Cheers,
CList
It's funny, living in NYC I eat out pretty much every night, and use my credit card pretty much every time, and have been doing this for 15 years.
In all that time the only time my credit card number has ever been taken and scammed, the bank and I tracked it down the culprit to a shady gas station in New Jersey. The bank's fraud detection system noticed their activity pretty much as soon as it happened, contacted me to confirm, then canceled the card - it was really not painful and the schmoe who took the card info got almost nothing out of it materially and likely went under investigation.
Cheers,
CList
In the US you are significantly more protected for credit and debit card fraud (as it is federal law)
in much of europe this is not the case - banks have various codes which they try and use to get our of compensating consumers.
PIN is not safer for the consumer than a signature and fraud cannot be charged back to the merchants as it could previously
in the uk matters have been improved with the ombasman stepping in and in 2009 the FSA.
In the netherlands the banks are still playing up despite consistant rulings that they have a duty unless there was gross misconduct.
Having contacted a number of banks none were willing to comment officially
SNS
in much of europe this is not the case - banks have various codes which they try and use to get our of compensating consumers.
PIN is not safer for the consumer than a signature and fraud cannot be charged back to the merchants as it could previously
in the uk matters have been improved with the ombasman stepping in and in 2009 the FSA.
In the netherlands the banks are still playing up despite consistant rulings that they have a duty unless there was gross misconduct.
Having contacted a number of banks none were willing to comment officially
SNS
Shadow703793
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- Feb 3, 2007
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They WILL be hacked quite quickly once they become mainstream. NOTHING will protect you from people who wish to get this info.
As stated above, this only protects if your card is lost or stolen. It does NOTHING if your numbers are swiped, stripped, stolen, or read in a credit card skimmer.
I had high hopes for a moment, that this card would institute some sort of one time use credit card number system, or some kind of rotating number scheme. Currently some banks offer services for one use credit card numbers, but it would be better if we moved to a system that could handle a combination Credit #, PSK + Passcode -> Encrypt.
Change the Pre-shared key every so often it shouldn't matter too much for skimmers.
Though I guess if the thief was eager enough with this new card, he could clean the plastic off and try reading the ram directly unless its encrypted. Doubtful it would be, new products like this rarely think that far ahead.
I had high hopes for a moment, that this card would institute some sort of one time use credit card number system, or some kind of rotating number scheme. Currently some banks offer services for one use credit card numbers, but it would be better if we moved to a system that could handle a combination Credit #, PSK + Passcode -> Encrypt.
Change the Pre-shared key every so often it shouldn't matter too much for skimmers.
Though I guess if the thief was eager enough with this new card, he could clean the plastic off and try reading the ram directly unless its encrypted. Doubtful it would be, new products like this rarely think that far ahead.
amdwilliam1985
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- Mar 30, 2006
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[citation][nom]Gulli[/nom]"Credit cards of the future"? That's a contradictio in terminis, America may be lagging behind but the rest of the world switched to debit cards decades ago. I can't believe anyone would trust a random waiter, hotel clerk or website with their credit card number and I can't believe anyone would be stupid enough to use a method of payment that spends money you don't really have.Just put a PIN-number on it and it'll be a million times safer.[/citation]
I have to disagree with you. I never use Debit card unless I absolutely have to(Sam's club don't take credit card).
The reason I'm using Credit card instead of Debit card is mainly because in case when there's something wrong with your transaction, you get better protection. For example, if you buy something online and for whatever reason you're not satisfy with the purchase, you can go to your credit card company and dispute it. If you're doing the transaction with your debit card, you will most likely be out of luck, your bank will tell you that your money is long gone(debited). In the case of credit card, banks will work extra hard for you because you haven't actually pay for it yet.
There are many other benefits for credit cards that I won't go into details here. American Express has the best customer service.
The bottom line is, if you have no problem controlling your finances, go with credit card, on the other hand, if you have no self control, then use Debit card so you won't be in great debt.
I have to disagree with you. I never use Debit card unless I absolutely have to(Sam's club don't take credit card).
The reason I'm using Credit card instead of Debit card is mainly because in case when there's something wrong with your transaction, you get better protection. For example, if you buy something online and for whatever reason you're not satisfy with the purchase, you can go to your credit card company and dispute it. If you're doing the transaction with your debit card, you will most likely be out of luck, your bank will tell you that your money is long gone(debited). In the case of credit card, banks will work extra hard for you because you haven't actually pay for it yet.
There are many other benefits for credit cards that I won't go into details here. American Express has the best customer service.
The bottom line is, if you have no problem controlling your finances, go with credit card, on the other hand, if you have no self control, then use Debit card so you won't be in great debt.
- Sep 6, 2008
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Personally I'd love a phone-based mobile wallet authenticated through a fingerprint, but I guess that's just pipe dream over in this side of the world.
amdwilliam1985
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- Mar 30, 2006
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[citation][nom]eddieroolz[/nom]Personally I'd love a phone-based mobile wallet authenticated through a fingerprint, but I guess that's just pipe dream over in this side of the world.[/citation]
Move to Japan and your dream comes true.
I believe Japanese already have these phones.
Move to Japan and your dream comes true.
I believe Japanese already have these phones.
mr_tuel
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- May 23, 2009
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So is the data stored on the cards encrypted? If not, they will be hacked within 48-72 hours of being released. Either way, this will thwart the common street thief who probably didn't even graduate HS. A sophisticated hacker with a strong enough motive is hard to stop.
back_by_demand
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- Jul 16, 2009
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This looks frikkin cool
One day, hopefully not too long in the future, the whole card will be a big LED touchscreen which can be used to play Youtube videos when you aren't using it to pay for gas
In the meantime - I want one!
One day, hopefully not too long in the future, the whole card will be a big LED touchscreen which can be used to play Youtube videos when you aren't using it to pay for gas
In the meantime - I want one!
[citation][nom]zarrensanders[/nom]NO NO NO...Why not just put a little square on one corner of the card so that when you press it it activates a thumb print scanner and then activates the card for 5 seconds or so, so it can be used..At the same time displaying a special number code that would be required for online transactions in adition to your card number,experation date and pin.That number would of course change for each use.Thus compleatley eliminating anyone other than yourself from using the card.Finger print inprinted into card when made at bank.[/citation]
Quadriplegics make purchases too.
Quadriplegics make purchases too.
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