General > General Technical Chat
"FU^%ING" Credit-Cards!!!
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bd139:

--- Quote from: themadhippy on July 02, 2020, 02:07:29 am ---
--- Quote --- and your mobile phone prompts you
--- End quote ---
And if dont have a mobile phone? Thats the problem with the system recently introduced in the uk,some banks do offer an email option,but not all.

--- End quote ---

With Santander here. If you make a big CC purchase you have to auth it with your phone. Works nicely. They do SMS as well but having 2FA for transactions is a damn good thing.

In 2020 if you don’t own a phone then you’re running a self inflicted social disadvantage IMHO
SilverSolder:

I prefer SMS over an app, in all honesty.  I can't guarantee what phone will be at the end of my phone number at all times,  but I can guarantee it will be able to do SMS!

DrG:
BTW: I was recently informed of a new rebate opportunity on a card that I do not use very often.


--- Code: ---Use your card to earn 10% back as a statement credit, up to $25, through 09/30/2020 on eligible purchases¹ you make at:

    Restaurants: including takeout meals and curbside pickup orders
    Grocery stores: including curbside pickup and online delivery
    Gas Stations
    Drugstores: including prescription orders made online
    Mass Transit & Commuter Transportation Vendors

--- End code ---

A 10% rebate! Now, it maxs it out at $25, but I think it qualifies as a, 'just reach down and pick it up'
Bassman59:

--- Quote from: bd139 on July 02, 2020, 08:14:22 am ---
--- Quote from: themadhippy on July 02, 2020, 02:07:29 am ---
--- Quote --- and your mobile phone prompts you
--- End quote ---
And if dont have a mobile phone? Thats the problem with the system recently introduced in the uk,some banks do offer an email option,but not all.

--- End quote ---

With Santander here. If you make a big CC purchase you have to auth it with your phone. Works nicely. They do SMS as well but having 2FA for transactions is a damn good thing.

In 2020 if you don’t own a phone then you’re running a self inflicted social disadvantage IMHO

--- End quote ---

My wife and I have tried to explain 2FA to my mother-in-law several times, and she still doesn't get it. And it's not because she's stupid. She's had a smartphone for several years, uses an iPad all the time and knows how those all work, but 2FA for an 80-year-old is baffling. And I can understand that.

I just wish there was a better way of authenticating transactions.

It's a conundrum to be sure. But to call it a "self-inflicted social disadvantage" says more about you than about her.
Bassman59:

--- Quote from: duckduck on July 02, 2020, 12:37:00 am ---It might take an upgrade to the payment terminals ...
--- End quote ---

There is the rub, right there.

And why aren't those upgrades happening? Because it costs money. New terminals aren't free. I bet the terminal vendors charge for upgrades, too. So businesses are loathe to spend the money on new terminals, and they've done the math and are willing to absorb the cost of fraud.

As of a couple of years ago, all POS card terminals in the US were supposed to have chip readers. The banks would no longer compensate vendors if systems were compromised by a magstripe reader terminal. Yet many businesses still don't have chip readers. (And those that do? NONE require a PIN, so the system is as insecure as a stripe.) And why? They did the math. Say a Bad Guy comes into the hardware store with a cloned credit card and he spends $1,000. Sure, that sounds like a lot of money, but how much does it cost to replace the entire point-of-sale system in that store? Likely a whole lot more than $1,000. Now of course the fraudulent charges will be uncovered soon enough and the card canceled. The true owner of the card doesn't have to worry as the charges will be removed from the account. But the store that sold $1,000 worth of goods? If the terminals were magstripe only, they're outta luck. But as Cosmo Kramer tells Jerry Seinfeld, "they'll just write it off!"

I've noticed that the local taquerias and coffee shops are the first to add more secure POS terminals and allow Apple Pay and other NFC pay systems. But for them it's only a handful of terminals, and sometimes the terminal vendors provide the hardware for free because they charge 3% on each transaction.

The big stores are looking at millions of dollars to roll out new POS systems across dozens or hundreds of stores, and they balk. An exception: Target was famously hacked and all of the data for their in-house credit cards were stolen. They rolled out chip-based POS terminals in record time, and then to get customers to use their in-house card again the cards were all re-issued and when you use it, you get a 5% discount.
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