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You bring up a lot of good points. In my mind I was thinking of text (or email, or phone) confirmation for online transactions and merchant-initiated transactio
by dkokelley 17y ago
You bring up a lot of good points. In my mind I was thinking of text (or email, or phone) confirmation for online transactions and merchant-initiated transactions. Basically anywhere you don't physically present the card. Having the card present is a pretty good indication you intended to make the payment. Online orders are done through payment gateways, or going back a bit, manually keyed at a terminal. Those transactions should be confirmed manually or white-listed before they are authorized.
- philwelch 17y agoWith a long enough confirmation period that would probably work.
- heresy 17y agoSome Korean banks already do this - My girlfriend gets a call from her dad every time she uses his credit card number online, as he gets a text message notifying him it has been used for card-not-present transaction :) He doesn't need to authorize it, but getting a notification that it has happened at all is better than nothing.