Posted on 10/26/2014 3:20:18 PM PDT by ImJustAnotherOkie
Apple is acting like the mob, I don't know what percentage is being kicked back to Apple probably from Visa's 2-3% or if this is on top of that.
To my thinking chip level security is pretty damn difficult to overcome when it get's cracked which it will. I don't like NFC one damn bit.
I hope it withers and dies.
VHS versus Beta.
Nah.... just folks trying to push their format. Users (as in all market driven decisions) will force a change.
From another article on the subject:
Former Walmart CEO Lee Scott is reported to have said, “I don’t know that MCX will succeed, and I don’t care. As long as Visa suffers.”
Doubtful. Banks in the US are required by law to be 70% onto the chip technology by October 2015. Unlike Europe which uses chip and pin, the US will be using chip and signature.
I do think the chip technology is a little more secure than our old mag stripe cards.
Icon Port?
Icon Porn?
The woodgrain metal enclosure was a nice touch.
The door in front makes a perfect Hot Wheels garage too.
Oh please, this is the stupidest thing. A vast conspiracy to fight one particular method of payment. Sorry to disappoint, but these readers have been broken for ages. With the rollout of ApplePay, many Google Wallet users (as well as SmartPass dongle holders, etc) were really hopeful that the mass of machines that have been broken for the longest time would finally be fixed.
Shocker, they weren’t. Mostly because most stores don’t replace POS terminals until they are entirely no longer functional. They are expensive gadgets, and whoopie if the NFC reader is broken, the customer will whip out the credit or debit card that is attached to anyway.
As for security - how secure is your credit card? (Hint: Not at all.) NFC is an order of magnitude more secure than any normal US credit card or debit card. The NFC defeats one of the most common credit & debit card frauds currently in action: that of taking a video of your debit card and entering the pin while you are in line at the market.
If my Credit Card is compromised, I can get another one. I check mine daily. My Debit Card stays parked.
That is also why you have Paypal.
Those beta decks were the best sound recorders you could ever hope for.
Yes, simple solution. Mine as well.
Most fraud could be stopped by asking for a photo ID and matching picture and signature. Racist I guess. Besides, if credit card companies asked for it, then hard to deny it at the polling place.
I've never seen fraud prevented by asking for ID. I have seen quite a lot of fraud prevented by asking for the card and typing in the last four digits on the card. Fake IDs are easier to come by than fake credit cards impressed with the proper credit card number.
To my thinking chip level security is pretty damn difficult to overcome when it get's cracked which it will. I don't like NFC one damn bit.
As for NFC, it is supposed to be insecure. It can be eavesdropped, it can be jammed, but it should not be susceptible to man in the middle. Of course the client could be flawed and get fooled into accepting invalid server credentials, but that is fixable. In short, there is no chip level security, no link level security, only application level security and that can be fixed if it is flawed.
“The app, when it launches next year, won’t replace your plastic credit card. Instead, it will withdraw directly from your checking account”
Which means you lose the numerous builtin benefits of using a credit card in uncertain situations. The credit card company is your friend if things don’t go right, especially online purchases. I’ve never failed to get my money back from a CC company on a bad online transaction. Only a modicum of documentation is needed, like an email receipt and a statement the item was broken, faulty, not what was ordered, etc.
Except for very rare situations, like autopaying my Xcel gas bill because they won’t take a credit card, I NEVER allow direct deduction from my bank account.
That little plastic credit card still looks pretty good.
What’s that they say about a fool and his money?
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