News in e-payment security

I’ve written many times about how insecure the credit cards are. They’re stolen by thousands and often merchants are those, who have to pay the price. But credit cards are still the e-payment number one in the world.

So, what are the current (2011) trends in making the electronic payments safer?

  1. Hardening the credit card transactions security.
    • Some intelligent controls for the merchant self. Payment Service Providers help with dosens of different smart filters, like IP-address, credit cards issue data, etc.
    • Help from PSPs. They keep black/white lists of credit card numbers and trying to react on stolen cards faster then issuing organizations
    • Help from Credit Card issuing banks – 3D secure. This helps merchants to shift their financial responsibilities a little
  2. Alternative payments, like iDeal or mobile payments. They’re much more secure technically. Additionaly credit cards are SO much simplier to steal that thiefs don’t care about cracking cryptho on Maestro-style devices yet.
  3. A combination of a credit card and a e-banking cryptho-authenticator, check this one out http://scobleizer.com/2011/02/23/credit-card-of-the-future/ Nice one from France!

 

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