Why no online chip payments?

For just about anything you want to get off your chest about credit cards.
22 posts
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Location: chicago

Postby flan » Wed Nov 26, 2014 9:56 pm

yfan wrote: You say your zip is easy to guess, I say there are only 10,000 combinations for 4 digits, which takes substantially less than a half a nanosecond for a computer to go through (without even going into the question of how your waitress would even know you aren't from out of town just by looking at your credit card). So yes, I stand by my assessment that when it comes to online shopping, chip and pin (or chip and anything else) along with a reader that most people don't own both doesn't have merit or any added actual security.

The computer can enumerate 10,000 four digit pins quickly, but if the pin is being processed online (the pin is sent to the issuing bank for verification), they won't get more than a handful before the bank says "I smell fraud!" and kills the card. If the card is doing offline pin (the card itself verifies the pin, and issues a cryptographically signed request when the proper pin is provided, which is passed along as proof of the card being involved and properly authenticated.), it's going to take a bit to process each one, and you don't get more than a handfull before the card says "I smell fraud!" and either shuts itself off, or says "we must do an online auth".

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Postby Cre » Wed Nov 26, 2014 10:10 pm

Vattené wrote:Such derogatory slurs are uncalled for. We prefer to be called Technophilic Millennial Americans.

***post sent from Vattené's smartphone***

TMA eh? I'll add it to the glossary. Right above TMI.

Current Cards:
AmEx Platinum Charge: NPSL, $450 AF
AmEx Reserve Credit: $30K limit, $450 AF
Chase Slate Visa Credit: $32K limit, No AF
Future Strategy:
Near Term: Need a good MasterCard for places that won't accept AmEx or Visa
Long Term: Will downsize out of one or both current AmEx cards to reduce AFs

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