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Personally, I think that credit cards should use two factor authentication. Put an e-ink strip on the back of the card that displays a new 6 digit pin every 10
by Osiris 13y ago
Personally, I think that credit cards should use two factor authentication. Put an e-ink strip on the back of the card that displays a new 6 digit pin every 10 minutes or so. The pin would be required to complete in-person and online transaction.
Skimmers would become useless because the PIN number entered would only be good for a few minutes after it was captured. Stealing a credit card number and sharing online would be equally useless without the physical card.
This would, of course, cause some problems for online purchases, like Amazon's 1-click, but something like vendor-specific passcodes could solve that. You could go to your credit card website and request a passcode to provide to a specific online store. If their database gets compromised, you can revoke the password.
- fmavituna 13y agoYou pretty much described 3D Secure - http://en.wikipedia.org/wiki/3-D_Secure http://en.wikipedia.org/wiki/3-D_Secure which is quite popular in Europe. Actually even mandatory in some countries.
- Flenser 13y ago> vendor-specific passcodes could solve that. You could go to your credit card website and request a passcode to provide to a specific online store. If their database gets compromised, you can revoke the password. If it's vendor specific then it shouldn't matter if anyone else has it. Only that vendor should be able to use it. If that's not possible then if their database gets compromised, the vendor should be able to invalidate their password.