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Why not type in the pin code at the POS terminal? All Credit cards (smartcards) in Europe (Visa, etc..) already have a chip integrated . So whenever you do a p
by bananaandapple 16y ago
Why not type in the pin code at the POS terminal?
All Credit cards (smartcards) in Europe (Visa, etc..) already have a chip integrated . So whenever you do a purchase in the store, you have to enter your pin into the terminal, to complete the transaction. No pin, no transaction.
I don't think that this credit card 2.0 is solving any problem at all.
Maybe the founder have never been to Europ and don't know that this exists here... imagine. hehe.
- zhyder 16y agoThat doesn't solve the problem Cushman mentioned (and clarified several times to thinkcomp in this thread): giving up all your credentials including PIN/"password" to the merchant's hardware, and trusting the merchant and its hardware. What's needed is a device you own and control directly communicate with the bank. Cushman suggested using one's smartphone, but I think the card itself could serve that purpose. The card has a display, a processor, and a keypad: everything except a data connection.
- bananaandapple 16y agoThat's just like a computer without even having the possibility to reinstall. Just imagine catching a trojan horse on the phone, stealing your credit card info. I prefer paying by PIN. The POS Terminal doesn't connect to the internet.