In the light of the recent credit card scam, I have been wondering why is a multi-trillion industry so wilfully insecure?
To do a credit card transaction all you need is the credit card number, expiry date and perhaps billing address - information that you can easily pick up - all that it takes is to pass your credit card to the waiter at a restaurant for payment and your details could be compromised in a flash
Even the much smaller NETS requires a PIN number to authorise a transaction. Why isn't a PIN or some other secured means required for credit cards?
To do a credit card transaction all you need is the credit card number, expiry date and perhaps billing address - information that you can easily pick up - all that it takes is to pass your credit card to the waiter at a restaurant for payment and your details could be compromised in a flash
Even the much smaller NETS requires a PIN number to authorise a transaction. Why isn't a PIN or some other secured means required for credit cards?