- Mar 12, 2014
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How do they prevent online fraud without a PIN?
Card numbers, exp dates, 3-4 digit security numbers can still be stolen and used.
Card numbers, exp dates, 3-4 digit security numbers can still be stolen and used.
"If someone copies a mag stripe, they can easily replicate that data over and over again because it doesn't change," says Dave Witts, president of U.S. payment systems for Creditcall, a payment gateway and EMV software developer.
Unlike magnetic-stripe cards, every time an EMV card is used for payment, the card chip creates a unique transaction code that cannot be used again.
I think the "online fraud" part is key here for his question. I wonder this myself... does it do anything to help if you use you card for online purchases only? Somehow i doubt it.How do they prevent online fraud without a PIN?
Card numbers, exp dates, 3-4 digit security numbers can still be stolen and used.
I think the "online fraud" part is key here for his question. I wonder this myself... does it do anything to help if you use you card for online purchases only? Somehow i doubt it.