@longtimelurker wrote:
@Berk wrote:
@Anonymous wrote:
The end is already in sight. Mobile phone payments are tokenized and require your fingerprint or a PIN. Your card has a chip on it, which is almost impossible to clone.
If the banks and merchants would have agreed on pay wave technology, we wouldn't have to swipe our cards nearly as much. Also, if restaurants here would bring the terminal over to the table instead of taking it to the back, you know, like in normal countries, we wouldn't have such a problem with fraud at restaurants.
Yep, you're right, my Citi card does have a chip in it and when I use Apple Pay I am required to use my fingerprint with it. Still didn't stop someone from purchasing two vacations at a resort in Poland from inside Poland without my fingerprint, chip, or CVV. I still don't see the end being in sight for some time if ever. As security advances so do the ways to circumvent it. Its too big a business for people to give up on.
And Card Not Present fraud is still pretty wide open, I haven't seem much adoption of some of the current solutions
Apple Pay is moving online and in app. Banks have virtual account number systems now.
