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High tech and credit cards...
In article ,
says... On Mon, 1 Oct 2012 09:07:31 -0400, iBoaterer wrote: Pin and Chip, look it up because I know that you haven't a clue. What happens when you lose a pin and chip card? If the totals are really stored in the cloud, why is it different than a regular debit card? Both count on the security of the PIN If someone somehow figures out your PIN (maybe watching you punch it in, recorded on their phone) how is it any more secure when they steal your wallet? In that instance it's not any safer. But that's not how most card thefts occur. http://en.wikipedia.org/wiki/Chip_and_PIN In part: Under the old system, a customer had to hand their card to the assistant to pay for a transaction. When credit cards were first introduced, offline portable card imprinters (mechanical rather than magnetic) which did not connect to the card issuer were used without the card leaving the customer's sight; transactions over a certain limit had to be verified by telephoning the card issuer. Later equipment was introduced which electronically contacted the card issuer using information from the magnetic stripe to verify the card and authorise the transaction; this was much faster, but had to be in a fixed location. Consequently, if the transaction did not take place near a terminal (in a restaurant, for example) the card had to be taken away from the customer to the card machine. It was easily possible at any time for a dishonest employee to swipe the card surreptitiously through a cheap machine which would take a couple of seconds to record the information on the card and stripe; in fact, even at the terminal, the criminal could bend down in front of the customer and swipe the card on a hidden reader. This made illegal cloning of cards easy, and a common occurrence. Since the introduction of Chip and PIN, cloning of the chip is not feasible; only the magnetic stripe can be copied, and a copied card cannot be used on a PIN terminal. Fortuitously, the introduction of chip and PIN coincided with wireless data communications technology becoming inexpensive and widespread, and wireless PIN pads were introduced that could be brought to the customer and used without the card ever being out of sight (this would have been possible, had the technology been available, with magnetic stripe cards). Chip and PIN and wireless together reduce the risk of cloning of cards by brief swiping. I suspect that because it's newer technology you and the righties don't want it, correct? |
High tech and credit cards...
In article ,
says... On Mon, 1 Oct 2012 12:30:04 -0400, iBoaterer wrote: In article , says... Yeah, you sure told me exactly how our geography makes things alot different for business here than elsewhere.... NOT... The thing that makes our country different than the dozen or more countries within a day's train ride in Europe is we have a few bank switches that link virtually every bank in the country. One credit/debit card machine can process debit transactions from any bank in the country, instantly. That may not be true in Europe and they want an autonomous card with the data right on the card, not in the cloud. I am still not sure how that works when you lose the card. That has absolutely NOTHING to do with what Scotty said, in that geography makes our economy any different. With chip and pin, you still have a pin, just like with the old magnetic strip cards. |
High tech and credit cards...
In article ,
says... On Mon, 1 Oct 2012 14:17:54 -0400, iBoaterer wrote: In article , says... On Mon, 1 Oct 2012 09:07:31 -0400, iBoaterer wrote: Pin and Chip, look it up because I know that you haven't a clue. What happens when you lose a pin and chip card? If the totals are really stored in the cloud, why is it different than a regular debit card? Both count on the security of the PIN If someone somehow figures out your PIN (maybe watching you punch it in, recorded on their phone) how is it any more secure when they steal your wallet? In that instance it's not any safer. But that's not how most card thefts occur. http://en.wikipedia.org/wiki/Chip_and_PIN In part: Under the old system, a customer had to hand their card to the assistant to pay for a transaction. When credit cards were first introduced, offline portable card imprinters (mechanical rather than magnetic) which did not connect to the card issuer were used without the card leaving the customer's sight; transactions over a certain limit had to be verified by telephoning the card issuer. Later equipment was introduced which electronically contacted the card issuer using information from the magnetic stripe to verify the card and authorise the transaction; this was much faster, but had to be in a fixed location. Consequently, if the transaction did not take place near a terminal (in a restaurant, for example) the card had to be taken away from the customer to the card machine. It was easily possible at any time for a dishonest employee to swipe the card surreptitiously through a cheap machine which would take a couple of seconds to record the information on the card and stripe; in fact, even at the terminal, the criminal could bend down in front of the customer and swipe the card on a hidden reader. This made illegal cloning of cards easy, and a common occurrence. Since the introduction of Chip and PIN, cloning of the chip is not feasible; only the magnetic stripe can be copied, and a copied card cannot be used on a PIN terminal. Fortuitously, the introduction of chip and PIN coincided with wireless data communications technology becoming inexpensive and widespread, and wireless PIN pads were introduced that could be brought to the customer and used without the card ever being out of sight (this would have been possible, had the technology been available, with magnetic stripe cards). Chip and PIN and wireless together reduce the risk of cloning of cards by brief swiping. I suspect that because it's newer technology you and the righties don't want it, correct? If you keep reading you find out these cards have been cracked and they are thinking about a rewrite of the whole system http://en.wikipedia.org/wiki/EMV#Vulnerabilities I think I will wait. Of course you will. |
High tech and credit cards...
wrote in message ...
On Mon, 1 Oct 2012 09:07:31 -0400, iBoaterer wrote: Pin and Chip, look it up because I know that you haven't a clue. What happens when you lose a pin and chip card? If the totals are really stored in the cloud, why is it different than a regular debit card? Both count on the security of the PIN If someone somehow figures out your PIN (maybe watching you punch it in, recorded on their phone) how is it any more secure when they steal your wallet? ------------------------------- That way they are not any different than our cards, but can not be cloned so easily, and you may only lose a day's money, instead of a couple weeks until your bill comes in. |
High tech and credit cards...
"iBoaterer" wrote in message
... In article , says... On Mon, 1 Oct 2012 12:30:04 -0400, iBoaterer wrote: In article , says... Yeah, you sure told me exactly how our geography makes things alot different for business here than elsewhere.... NOT... The thing that makes our country different than the dozen or more countries within a day's train ride in Europe is we have a few bank switches that link virtually every bank in the country. One credit/debit card machine can process debit transactions from any bank in the country, instantly. That may not be true in Europe and they want an autonomous card with the data right on the card, not in the cloud. I am still not sure how that works when you lose the card. That has absolutely NOTHING to do with what Scotty said, in that geography makes our economy any different. With chip and pin, you still have a pin, just like with the old magnetic strip cards. ----------------------- Have to go though different countries banking laws, so not all banks can be accessed easily like in the USA. |
High tech and credit cards...
On 10/1/2012 7:39 PM, Califbill wrote:
"iBoaterer" wrote in message ... In article , says... On Mon, 1 Oct 2012 12:30:04 -0400, iBoaterer wrote: In article , says... Yeah, you sure told me exactly how our geography makes things alot different for business here than elsewhere.... NOT... The thing that makes our country different than the dozen or more countries within a day's train ride in Europe is we have a few bank switches that link virtually every bank in the country. One credit/debit card machine can process debit transactions from any bank in the country, instantly. That may not be true in Europe and they want an autonomous card with the data right on the card, not in the cloud. I am still not sure how that works when you lose the card. That has absolutely NOTHING to do with what Scotty said, Oh **** you you stupid ****.... |
High tech and credit cards...
In article , says...
On 10/1/2012 7:39 PM, Califbill wrote: "iBoaterer" wrote in message ... In article , says... On Mon, 1 Oct 2012 12:30:04 -0400, iBoaterer wrote: In article , says... Yeah, you sure told me exactly how our geography makes things alot different for business here than elsewhere.... NOT... The thing that makes our country different than the dozen or more countries within a day's train ride in Europe is we have a few bank switches that link virtually every bank in the country. One credit/debit card machine can process debit transactions from any bank in the country, instantly. That may not be true in Europe and they want an autonomous card with the data right on the card, not in the cloud. I am still not sure how that works when you lose the card. That has absolutely NOTHING to do with what Scotty said, Oh **** you you stupid ****.... What an intelligent statement....... |
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