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Why is it still possible to commit so much fraud with credit cards? Where is the second factor for CC use online or some other more secure way? When I use my V
by sschueller 4y ago
Why is it still possible to commit so much fraud with credit cards? Where is the second factor for CC use online or some other more secure way?
When I use my VISA chip and pin credit card online I sometimes depending on merchant/amount/etc have to approve the transaction via the credit card app. Should this be the defacto standard?
- tdeck 4y agoIt's because merchants tolerate a certain amount of fraud loss in order to reduce friction for the customer when making a payment. The same reason nobody ever checks you ID when you pay with a credit card in a store (unless you're in Vegas where they seem to do that, for some reason).