4 ms·
I can see from a privacy standpoint, this may cause some concern. However, from a credit card processor point of view and combating "friendly fraud". This cou
by no1youknowz 9y ago
I can see from a privacy standpoint, this may cause some concern.
However, from a credit card processor point of view and combating "friendly fraud". This could be an excellent tool to prevent that.
For example. The scenario where a transaction has been processed and 6 weeks later, it is disputed because the card holder doesn't recognise the transaction. Perhaps the wife used the husbands card whilst he was in the shower, for [insert candy crush clone].
A capture of the users face would definitely help the merchant win the representment against Visa/Mastercard.
In a scenario where goods are being shipped cross-border. Lets say from China to the US and it's for a large amount. Then this could be an extra step, where the data hasn't passed a certain threshold and thus further information is required. Having a real-time snapshot and validation to prove the card holder is legitimate. Ensures the transaction goes through.
Ultimately, I do understand it's about weighing privacy concerns. But that doesn't mean some good can't come out from this.
- jstanley 9y agoNo. I'm not having a photo of my face and the inside of my home associated with every online purchase. That's ludicrous.
- no1youknowz 9y agoI agree. From a consumer point of view, you are welcome to take that position. However, my comment was purely from a credit card processor, acquirer or even bank. At the end of the day, if something like this was introduced. You are free to not comply, pay with an alternative method or shop elsewhere.
- wu-ikkyu 9y ago>You are free to not comply, pay with an alternative method or shop elsewhere You are increasingly not free to choose an alternative, given the increasing centralization of the "too big to fail" finance and tech industries.
- Nullabillity 9y agoFrom a fraud-prevention POV this is idiotic as well, given how susceptible systems like this are to replay attacks.
- sokoloff 9y agoGiven the resistance in the US to chip-and-pin, I wouldn’t expect “anything-and-facial-rec” to catch on quickly.
- tzahola 9y agoYou would still be free to checkout without face ID. Of course this would incur a slight fee on the final sum, and buyer protections would be void, but you would still be free to opt out :-)
- nathan_long 9y agoCredit card processors and banks could do a lot to combat fraud that they don't do. Eg, realtime 2FA per transaction, which, as a bonus, could give the user a chance to categorize the purchase in their budget. They do exactly the amount of security that they think is most profitable - balancing losses to fraud vs abandoned sales because of inconvenience. Jumping straight to face recognition is a bit like physical security adding strip searches when they haven't yet bothered visually scanning for weapons.
- briandear 9y agoN26 does real time 2FA for online card purchases. It’s super easy and painless.
- bdcravens 9y agoMerchants ask for ID well less than 1% of all of my physical purchases.