Latest topics
» POOFness for APR 18: MIDWEEK BY ZAP the Lying Internet Panhandler
Today at 2:19 am by RamblerNash

» This will be Jerzy's next excuse!! LOL
Today at 2:17 am by RamblerNash

» Hey Purps...We should have a "What Will Jerzy/ZAP Beg For This Week" Poll!
Today at 2:14 am by RamblerNash

» Jerzy/ZAP And The Saga Concerning "Mary" - FOUND!
Today at 1:38 am by RamblerNash

» Office of PROOFness - Zap/Jerzy "Damage Control"
Today at 1:15 am by RamblerNash

» Out Of Mind Viewer Poll ~ "What Will Jerzy/ZAP Beg For This Week?" ~ Guests welcome to vote
Today at 12:41 am by RamblerNash

» POOFness for APR 22: When The Ships Come In I will be at the airport eating a ketchup sandwich
Today at 12:14 am by RamblerNash

» Barrie Trower On 5G Microwaves ; There is No safe Place, No Where To Go
Yesterday at 9:18 pm by Consciousness Of Economic

Yesterday at 8:54 pm by Consciousness Of Economic

» Interplanetary shock wave hits Earth’s magnetic field creating red, yellow, green southern lights and blue northern lights
Yesterday at 8:12 pm by PurpleSkyz

» Have you ever considered the idea that a regular combat soldier obeying orders is actually a murderer ?
Yesterday at 8:08 pm by PurpleSkyz

Yesterday at 7:45 pm by PurpleSkyz

» What Do You See?
Yesterday at 7:31 pm by PurpleSkyz

» Impossible Warangal Hindu Temple. Unthinkable skill of stone processing
Yesterday at 7:28 pm by PurpleSkyz

» Bill Gates Funding Web of Satellites For Global Real-Time Surveillance
Yesterday at 11:58 am by MartyM

» Unexplained holes in Arctic sea ice appear in new NASA aerial photography
Yesterday at 10:45 am by PurpleSkyz

» Kill Your Excuses or They Will Kill You
Yesterday at 10:41 am by PurpleSkyz

» The Prison You Live In And How You Hold The Key to Escape It
Yesterday at 10:38 am by Consciousness Of Economic

» Corporations That Want You Dead - Jim Marrs
Yesterday at 10:36 am by Consciousness Of Economic

Yesterday at 10:07 am by PurpleSkyz

» NXIVM sex cult actress Allison Mack arrested; naming names
Yesterday at 10:06 am by PurpleSkyz

» The Veils of Amnesia/Illusion being lifted: The stages of initiations and soul growth
Yesterday at 9:41 am by PurpleSkyz

» Humming in the Sky over Ajman ,United Arab Emirates
Yesterday at 9:09 am by PurpleSkyz

» Simpsons Predicted PRINCE...Shakespeare 400-year Anniversary
Yesterday at 9:08 am by PurpleSkyz

» Heather Ann Tucci-Jarraf's Letter to Francis Lloyd and USM Sanchez, Parts 1, 2, 3, 4
Yesterday at 9:05 am by PurpleSkyz

» Q: THE WORLD IS WATCHING: The Satanic Death Cult is Losing -- Harley Schlanger
Yesterday at 8:43 am by PurpleSkyz

» Jeff Rense & Charlie Robinson - The Octopus of Global Control Pt.1
Yesterday at 8:42 am by PurpleSkyz

» OOPS - US Govt Accidentally Releases File Detailing Electromagnetic Weapon for ‘Remote Mind Control’
Yesterday at 8:40 am by PurpleSkyz

» Earth Day 2018
Yesterday at 8:35 am by PurpleSkyz


You are not connected. Please login or register

Out Of Mind » THE INSANITY OF REALITY » SCIENCE » Important about Credit Card safety: The EMV chip card

Important about Credit Card safety: The EMV chip card

Go down  Message [Page 1 of 1]


Important about Credit Card safety

The EMV chip card

EMV cards are trying to make landfall in the U.S., thanks to major initiatives from the payment networks -- Visa, MasterCard, American Express and Discover.
Widely used abroad, these cards contain a microprocessor chip that stores the account information and communicates to the checkout computer at purchase. The chip then encrypts the purchase data uniquely each time it's used. Vanderhoof refers to this as "dynamic" data.

This makes it harder for criminals to pick up useful payment data and use it again for another purchase, and it practically wipes out counterfeit fraud. In the U.K., counterfeit fraud fell by more than 70 percent from 2007 to 2012 after the countrywide adoption of EMV cards, according to a report from the UK Cards Association and Financial Fraud Action UK.
EMV cards come in two varieties: chip-and-PIN and chip-and-signature. The former requires a personal identification code to further verify a transaction and helps to prevent fraud from lost or stolen cards, Carolyn Balfany, senior vice president and group head at MasterCard, explained at the Card Forum & Expo in April. The second requires only a signature and is less effective against lost or stolen fraud.

But EMV isn't ironclad. Chip cards guard only against counterfeit fraud. It doesn't help prevent fraud that occurs when only the account information is used for a purchase, such as over the phone or online.

The contactless card
Contactless payment cards boast convenience and ease-of-use at purchase, but are they secure? A host of recent reports have called into question their security.
This type of card uses near-field communication, or NFC, to conduct payments. Card information is stored in a chip on the card or device and that data is transmitted via radio frequency to a payment terminal equipped to accept this type of tap-and-go payment. Some credit cards and gas stations offer this technology.
The technology is similar to RFID, or radio frequency identification, found in electronic toll collection tags such as E-ZPass. The key difference is the RFID technology is meant to be read at great distances, while NFC technology is meant to be read at a very close distance, no more than 4 inches.

The media reports focused on the possibility that someone could lift the information from a card while it's still in a wallet by simply waving an NFC reader close to it. So far, the fears are unfounded because they have occurred only in demonstrations. There has been no reported fraud committed like this.
"It's certainly not in banks' interests to employ a technology that puts their consumers in danger," says Michael Misasi, senior analyst at Mercator Advisory Group. "It's my understanding that NFC cards only operate within a couple of centimeters."
NFC cards also allow consumers to hold onto their cards throughout the entire transaction, eliminating the ability of fraudsters to skim their cards

Posted by John MacHaffie at 6:25 PM

Back to top  Message [Page 1 of 1]

Permissions in this forum:
You cannot reply to topics in this forum