5 ms·

"Get rid of the magstripe and bad actors will steal your card info using cameras" Even if they see my PIN, they can't clone a chip, so what they are going to d

• pitaj 9y ago
  Use it for online payments.
  • kbart 9y ago
    You need a valid address for that too and it's not on a card.
    • tzs 9y ago
      To elaborate a bit on what amenghra said, the information you are asked for when you use your card for a "card not present" transaction (card number, card security code, name, billing address, expiration date) falls into three categories. • information required by the bank, • information that the bank will check if you supply it, • information that is not checked by the bank. The first category, required information, is just the card number for most banks (and the amount to charge, of course). The second category, checked by the bank if supplied, is everything except for the card number and the expiration date and the amount. This information is used for fraud control. If a merchant supplies it, the bank tells the merchant if it was correct. With many banks the credit card fees are slightly lower if this information is supplied. Even if the merchant supplies this and the bank says it does not match the merchant can go ahead with the transaction, although such transactions have a higher risk of fraud (and therefore chargebacks). The third category, information not checked by the bank, is the expiration date. The expiration date check is at the payment processor, and that check is simply: if expiration_date < current_date() reject_transaction() The expiration date on a card is just when that physical card is no longer supposed to be used. It is not an expiration date on the underlying account. This is one reason why many people have gotten a surprise when they have had some kind of subscription they no longer wanted, and instead of actually cancelling it they just let their card expire and think the re-billing will then fail. There are three problems with that approach. 1. If the merchant marks a transaction as a recurring transaction some payment processors skip the expiration date check. 2. Some merchants include something like this in their re-billing code: if expiration_date < current_date() expiration_date = date_add(expiration_date, interval(3, 'years')) 3. Visa, Mastercard, and Discover (not sure about Amex) have updater services. Merchants can send a credit card number and expiration date to the updater service, and the service will tell them the current expiration date and the current card number for the underlying account. This one can be especially surprising to people because it can update both the expiration date and the card number.
      • dx034 9y ago
        Are you sure that the expiration date is not checked for any vendor? I recently paid online (Mastercard I think) and the transaction got declined because I entered the wrong expiration date. The date was in the future, I just entered a wrong month. So there must've been a check. But could be that they used 3D secure (or equivalent) and it got declined there, the check often happens too fast to notice.
        • tzs 9y ago
          It's possible that some of the enhanced security systems, like 3D secure, do check more. It's also possible that there is more checking for transactions that are not flagged as recurring payments.
        • leesalminen 9y ago
          I believe this comes down to the cardholder bank. My local credit union doesn't check expiration date of cards (I've tried as far out as 2029). CapitalOne does.
      • deleted 9y ago
        [deleted]
    • amenghra 9y ago
      Sadely not all banks validate the billing address. Some just check the zip code, others don't even do that.
      • jjeaff 9y ago
        By choice, to make it easier for our customers to pay (we are saas) we only require the number and CVV.
        • WhiteSource1 9y ago
          Do you have a payment provider that verifies that card?
      • daurnimator 9y ago
        Thankfully. Trying to use a non-US card in the USA is a pain: most online shops or machines (e.g. NYC Metrocard) require a 5 digit ZIP. Cards from elsewhere don't have a 5 digit ZIP to enter. So usually I can't use those websites, at least if it's a machine I can pay cash.
    • Grue3 9y ago
      If you know the name of a person, finding their address is pretty easy.
  • ddnb 9y ago
    Wait, you guys don't use card readers for online payments? Edit: My bad, just realized you use credit cards instead of debit cards we use in europe. CC here also don't use ccard readers for online payment.
    • colejohnson66 9y ago
      Wait. What? You have to have a card reader for online debit purchases?