Results 1 to 3 of 3

Thread: shifting card fraud liability from merchant to bank

  1. #1
    just me duncan drennan's Avatar
    Join Date
    Jun 2006
    Location
    Cape Town
    Posts
    2,642
    Thanks
    119
    Thanked 94 Times in 77 Posts

    shifting card fraud liability from merchant to bank

    There is an interesting article on MyBroadBand about internet shopping and how some new protocols will allow the full liability to be shifted from the merchant to the bank.

    Merchants authenticating transactions using 3D Secure and SecureCode will be free of liability if the transaction is fraudulent, with liability passing to the issuing bank.
    Full story on MyBroadBand
    I actually came across the Visa and MasterCard secure setups when booking a flight on BA the other day. So if internet transactions can be liability free (for the merchant) I assume that this will filter down to the normal EFT POS terminals and allow similar liability free use?

    Either that or the EFT POS terminals will be replace with internet terminals - makes sense from a merchant perspective.
    [SIGPIC]Engineer Simplicity[/SIGPIC]
    Turn ideas into products | The Art of Engineering blog

  2. #2
    Site Caretaker Dave A's Avatar
    Join Date
    May 2006
    Location
    Durban, South Africa
    Posts
    20,979
    Thanks
    3,055
    Thanked 2,462 Times in 2,067 Posts
    Blog Entries
    12
    The tricky bit I'm finding with all this is the ever increasing number of passwords we have to remember.

    Each time I use a facility that I haven't used for a while, I have to spend time scratching my head to recall which password I used.
    The trouble with opportunity is it normally comes dressed up as work.

  3. #3
    just me duncan drennan's Avatar
    Join Date
    Jun 2006
    Location
    Cape Town
    Posts
    2,642
    Thanks
    119
    Thanked 94 Times in 77 Posts
    I use little phrases that I associate with the service and then change letters to abbreviations, or numbers, or symbols.

    For example, an "e" or "E" might be change to a "3" (because E and 3 are similar), an "o" or "O" might be "0" (that's a zero) or the word money could eb represented by a "$" and so forth. The phrase is then not too hard to remember and you just apply your coding to it.
    [SIGPIC]Engineer Simplicity[/SIGPIC]
    Turn ideas into products | The Art of Engineering blog

Did you like this article? Share it with your favourite social network.

Did you like this article? Share it with your favourite social network.

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •