"In 2012, MasterCard and Visa decided on a timeline, setting October 2015 as the deadline for the switch away from swipe-and-sign cards, which are notoriously easy to gather information from."
”Chip-and-PIN makes it much harder to copy a card when data is stolen,” a Symantec representative testified before the committee on Tuesday. “It also makes it harder to steal data in the first place due to encryption. It also makes physically stealing a credit card less useful, since you don’t have a PIN.”
Many adult webmasters just found out that VISA is now blocking ePassporte. I guess the new slogan for Visa is ".. accepted almost any place."
A widely deployed system intended to reduce on-line payment card fraud is fraught with security problems, according to University of Cambridge researchers.
The system is called 3-D Secure (3DS) but known better under the names Verified by Visa and MasterCard SecureCode. Implemented and paid for by e-commerce vendors, the systems require a person to enter a password or portions of a password to complete an on-line purchase.
As a reward for investing in the systems, merchants are less liable for fraudulent transactions and are stuck with fewer chargebacks.
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