4 ms·
The reason this doesn't solve a problem is because it's an attempted technological solution to a non-technological problem. If you're going to do business with
by tacostakohashi 11y ago
The reason this doesn't solve a problem is because it's an attempted technological solution to a non-technological problem.
If you're going to do business with someone, a certain amount of trust is required, and there isn't any working around that with technology. If you don't trust a vendor to refrain from stealing your credit card information, how can you trust them to actually deliver the goods, not spit in your food, honor the warranty, etc, etc? Alternatively, if you do trust them to do those things, trusting them with your credit card number isn't much of a leap, especially given that banks are actually incredibly efficient at identifying and dealing with fraud, if not preventing it outright.
- dogma1138 11y agoWell it does solve a small technical problem, trusting vendors is hard Sony, Target etc. are "trustworthy" but still got nicked and the credit card data of millions of customers was compromised. But that's not a problem most consumers have to deal with, their credit cards are insured, debit is a different story but in the US at least the amount of debit transactions is still fairly limited. The biggest issue i see with this is that this isn't the most sustainable business model credit card costs are balanced more or less by the trust that the issuers has in the credit card holder (your credit limit, interest etc.) and the trust the acquirer has in you when you perform a transaction, prepaid cards are more or less notoriously untrusted by both because the issuer basically thinks you are too much of a liability to give you credit and the acquirer doesn't know who you are because that card has no credit history and single use cards are much more often abused for illicit purposes.