finally some good news. Can't see any immediate problems with this, as long as all merchants globally end up using it....
http://news.bbc.co.uk/1/hi/technology/8046492.stm
QuoteDevelopers say that the new technology would make it very hard for fraudsters, as any transaction would require the pin to generate the code.
I don't see it remaining hard for long, somehow. Measure and counter-measure. :(
secure id has been round for a while rik, and there are no known security flaws. I'm sure this type of tech would beat card not present fraud as long as you can advise your bank only to accept transactions that have used the pin.
Looks interesting. I wonder if the battery would hold out - solar energy anybody?
I just feel that it's only a matter of time, So, the development of the credit card has seen measure and counter-measure for as long as I can remember - and I go back almost 40 years with Barclaycard.
i know what you mean rik. Nothing in bulletproof, but this does at least look promising. Random data (as random as the algorithm is) is much more secure than static data at least in this instance
Oh, I'm all in favour of it, I just remember holograms being touted as the solution to fraud. :)
:hehe:
Wont work for long, it's a rule of life, what one man can construct, another can destroy
( or woman )
Fraud is just a commercial war, ultimately, Bob, so will always see the balance tipping one way or another.
Remember the anti, anti, anti, ant, anti, missile missile that blew itself up.
I remember the Great Panjandrum from my reading (and Dad's Army). That was fun. :)