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credit card pin numbers...

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  • 10-09-2003 9:53am
    #1
    dynamic.ie
    Closed Accounts Posts: 135 ✭✭


    Hi,

    I have been reading about the new credit card pin numbers that are in testing in the UK. The idea is that when you go to purchase using your credit card, you don't sign a slip anymore... just enter your pin number at the desk. I think it was france that saw a drop of 80% in credit card fraud since its introduction.

    The UK have a programme (CHIP & PIN) in progress that will mean it will be in place all over the UK by Jan 2005.

    Anyone know what is being done in Ireland regarding this?

    How do you think this will effect online transactions in Ireland? Will it increase the demand of web development services on its introduction, do you think?

    UK Info - www.chipandpin.co.uk

    Personally, I can't wait for it! I think we would be looking at consumers feeling better about trading online, which would have a knock on effect for B2C businesses who want to utilise the Internet for eCommerce (and they will feel saver, that fraud would not be as high).

    Whats your opinions?

    Dave


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    #2
    henbane
    Registered Users Posts: 1,636 ✭✭✭henbane


    I think the scheme in France is really more effective at stopping traditional credit card fraud.

    I don't think the problem with online fraud is what stops people using their credit cards as much as the problem with online security. When you give your details to all these companies they helpfully store it in perpetuity so if they're ever cracked all your details are there for the taking.

    I wish some of the better online stores would stop insisting on saving my information the first time I use them. I have far more doubts about the vagueness of their privacy policies and the integrity of their servers than fears that someone is listening in on the transaction when I post the details. It would be nice to just use the site a few times to see if they is any good before I commit to letting them save the information.

    I know the one-shot ones probably keep it all on servers forever too but at least they don't have to so they possibly might not.


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    #3
    GerardKeating
    Registered Users Posts: 7,675 ✭✭✭GerardKeating


    Originally posted by dynamic.ie
    The UK have a programme (CHIP & PIN) in progress that will mean it will be in place all over the UK by Jan 2005.

    Anyone know what is being done in Ireland regarding this?

    How do you think this will effect online transactions in Ireland?

    EMV (chip & pin) cards will come in here at the same time as the UK.

    There will be a "trial" on Naas/NewBridge next year. It was due this year, but has been postponed. Also postponed in the english trials in Northhampton.

    This has no effect on on-line/web transaction.


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    #4
    dahamsta
    Banned (with Prison Access) Posts: 16,659 ✭✭✭✭dahamsta


    Have a look here.

    adam


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    #5
    buddy
    Registered Users Posts: 1,031 ✭✭✭buddy


    Originally posted by GerardKeating
    This has no effect on on-line/web transaction.

    Technically Yes, but without signatures being used all the time - people may feel more secure using it online also.


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    #6
    dynamic.ie
    Closed Accounts Posts: 135 ✭✭dynamic.ie


    Originally posted by GerardKeating
    This has no effect on on-line/web transaction.

    Will PSP's such as realex, world pay and the likes not be incorporating the pin into online transactions... to add security. I believe worldpay are starting something and have welcomed the changes.

    So, in essence, this would effect online/web transactions.


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    #7
    JJSolutions
    Closed Accounts Posts: 156 ✭✭JJSolutions


    VISA are trying out a system when if you are using their card online you will be brought to your card provider's site e.g. banking365 where you must login to proceed with the transaction.

    Not sure how far along they are with this.


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    #8
    nahdoic
    Registered Users Posts: 944 ✭✭✭nahdoic


    Originally posted by JJSolutions
    VISA are trying out a system when if you are using their card online you will be brought to your card provider's site e.g. banking365 where you must login to proceed with the transaction.

    Not sure how far along they are with this.

    Why they hadn't done this years ago I'll never know, it just makes so much sense. But it's exactly what paypal are doing now, so interesting times ahead to see how the whole industry pans out.


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    #9
    mneylon
    Registered Users Posts: 7,739 ✭✭✭mneylon


    Originally posted by nahdoic
    But it's exactly what paypal are doing now, .

    What do you mean?

    Blog | Tweets



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    #10
    nahdoic
    Registered Users Posts: 944 ✭✭✭nahdoic


    Sorry, I should have made that clearer. I sometimes think very differently to most people.

    Of course it's not exactly what paypal are doing now, but it will be very similar. If you are buying from a seller who uses paypal, you have to login to your paypal account to 'confirm the transaction' before it proceeds. It's very reassuring, and makes shopping online even more controlled and safer than shopping in the real world.

    It's the same concept that credit card companies should do, whereby whenever you buy something online you should be able to login to visa.com and 'confirm the transaction'.

    As I said, not exactly the same, but very similar. It could seriously effect paypal in the future, if not wipe them out altogether.


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