There are credit cards that have an LCD screen with a pseudo-random code generator embedded:
But, they aren't being deployed in the US.
Posted on 05/26/2015 5:51:20 AM PDT by Kaslin
Obama thinks CHIP and PIN are just golf terms.
This is an issue that can definitely be served by free market choices - ( I know, an alien concept to the world’s liberals)
You want card with a chip, apply to a company that offers them.
I did
And he causeth all, both small and great, rich and poor, free and bond, to receive a mark in their right hand, or in their foreheads:
And that no man might buy or sell, save he that had the mark, or the name of the beast, or the number of his name.
Merchants will be required to have a point-of-sale terminal that can read the chip by October. If they don't, they will assume responsibility for any fraudulent use of a card that has a chip.
However, it will be almost universally "chip and SIGNATURE" for credit cards. Unlike other countries that use a PIN, it would require a large change in how some merchants process credit cards -- like restaurants.
I think we will eventually go to PINs in the US. But, it won't happen this year.
No, "contactless" means that the card isn't inserted into, or swiped on the reader.
Contactless cards use NFC (near field communication). You can find a sideways WiFi symbol on the back of cards that support it. It's called "tap to pay" in other countries.
Apple Pay and Google Wallet work by emulating a contactless card.
My free market choice is cash whenever possible.
Part of the T&C will force somebody other than the credit card company or the issuing bank to be responsible for losses.
All approved by Congress at some point.
Banks win, consumers and merchants lose.
Bump! Cash is king. I use a debit card for online purchases but that’s it. Local purchases gets paid by cash.
ping
Last year I was issued a new credit card that the chip and the old strip. In some places like Wally World I had to slide in the slot that reads chips. Other places with older machines I slid the conventional way to read the strip.
About six months later they cancelled that card and sent me a replacement with NO CHIP! I figure this means the chip had some drawbacks they way they had implemented it.
Give everyone a one time pass code reader. You have your debit or credit card pin, then you enter a pin that is generated off your FOB. It is one time only so the only fraud that can happen is your FOB is stolen and you are forced to give up your secret pin.
Ha ha.
Could you make this cheap and disposable? So the CC issuer is going to mail you one of these?
“Could you make this cheap and disposable? So the CC issuer is going to mail you one of these?”
The biggest cost will come from the back end infrastructure being implemented. The readers themselves are pretty cheap.
I don’t understand why they can’t go to a biometric that analyzes the signature itself, including the cadence with which it is written.
There are credit cards that have an LCD screen with a pseudo-random code generator embedded:
But, they aren't being deployed in the US.
It's not reliable. You would have people standing in line while someone tries to sign it in a way that will validate.
Depends upon the tolerances and what it is measuring.
The devices that could be used for this sort of thing suffer from all kinds of calibration problems. All you have to do is observe your captured signature on the electronic pads that are already in use.
The tolerances would have to be so wide that it would be effectively useless for verification.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.