shifting card fraud liability from merchant to bank

[duncan drennan]

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.

[Dave A]

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.

[duncan drennan]

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.