General > General Technical Chat
"FU^%ING" Credit-Cards!!!
Halcyon:
Wouldn't a sensible solution simply be to enforce multi-factor authentication on ALL card transactions, whether it be online or using a PIN pad? I know with certain merchants that use Verified by Visa, I'm prompted for a password for online transactions on my bank card, but it's not as common as perhaps it should be.
gnif:
--- Quote from: Halcyon on June 27, 2020, 02:20:26 am ---Wouldn't a sensible solution simply be to enforce multi-factor authentication on ALL card transactions, whether it be online or using a PIN pad? I know with certain merchants that use Verified by Visa, I'm prompted for a password for online transactions on my bank card, but it's not as common as perhaps it should be.
--- End quote ---
You would think, but the ease of spending money pinless adds, combined with the cost to replace worn out keypads might be more then they lose in fraud.
greenpossum:
--- Quote from: Halcyon on June 27, 2020, 02:20:26 am ---Wouldn't a sensible solution simply be to enforce multi-factor authentication on ALL card transactions, whether it be online or using a PIN pad? I know with certain merchants that use Verified by Visa, I'm prompted for a password for online transactions on my bank card, but it's not as common as perhaps it should be.
--- End quote ---
It would slow down transactions at your supermarket or servo unacceptably. However for dubious overseas purchases over the Internet, I have been asked to enter a one time code sent to my mobile number. Some providers also provide apps that can generate appropriate one time codes at time of use.
DrG:
--- Quote from: cliffyk on June 27, 2020, 02:14:07 am ---/--/
There are only modest protections for fraudulent debit card use, just $50 for 2 days after the first use, $500 for 2 to 60 days hence (and good luck on actually getting that). Once 60 days have passed since you received your statement your money is gone.
Bottom line, if it's your debit card that's been hacked you're screwed...
--- End quote ---
Additionally, I think that the fraud with a debit card can incur additional problems since the fraudulent uses can reduce your account balance before they are detected, possibly resulting in bounced checks. I wonder how easy that is to rectify.
Some of this is coming back to me and reminds me why I dumped whatever debit cards I had.
Brumby:
While I understand the position, it seems credit providers are looking towards making things easier...
The recent increase of floor limit from $100 to $200 for tap and go payments (as a "concession" to the COVID-19 situation) is one move I don't see reverting. I daresay retailers - especially those with high transaction rates - would agree. I've noticed the speed of service at Bunnings (Yes, I know I spend far too much time there :-[ ) for tap and go versus other variants of EFTPOS is quite marked.
(Oh, snap...)
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