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Most of their top engineering talent goes towards risk determination (if a transaction is legitimate or fraudulent) done on behalf of banks/merchants they have
by Salgat 2y ago
Most of their top engineering talent goes towards risk determination (if a transaction is legitimate or fraudulent) done on behalf of banks/merchants they have contracts with. They have a massive push for using ML to enhance that, and they have extremely strict latency requirements on processing time. All this high performance costs a lot of engineering money.
- marcosdumay 2y agoAnd yet, they refuse to make their protocol secure on any way that isn't mandated.
- Salgat 2y agoWhat do you mean? You mean whether to require using the physical chip on the card?
- marcosdumay 2y agoThey dragged their feet to add a cryptographic chip, dragged it to make the readers accept the chips, dragged their feet again for deprecating the non-chip transactions. Meanwhile, online purchases are still done by sending a number and trusting the person that received it. They keep dragging their feet to make any side channel verification or cryptographic validation. But well, they dragged their feet for so long that most of the world already made some competitor with those features. I hope they go on and fail as soon as possible, they do deserve it.
- Salgat 2y agoIt's tricky, because they decided to leave this up to the banks/merchants (along with the associated liability) rather than force it.