Insecure Credit Cards

Visa RFI credit card Mag stripe cards have as much security as a pile of signed blank cheques. The new RFI (Radio Frequency Interface) credit cards have even less. Somebody should sue the credit card companies for this gross negligence. If you give your credit card over the phone or over the Internet to a merchant, he, his crooked employees or anyone snooping electronically, can use that number to makes as many purchases as he wants over the net. He has your number and your expiry date. If you hand your card to a merchant, he can easily record the information on the card for later illicit use. If you have a RFI credit card, a thief can steal the information on all the cards is your wallet simply by walking within 3.05 metres (10 ft) of you in a shopping mall. Your card willingly divulges this information, without your permission, on being given a tiny prod of radio waves from a $10 device. The technology for secure commerce has been known for half a century. The credit card companies refuse to use it, presumably because they can usually stick their customers (vendors and purchasers) with most of the costs of the thefts, especially the undected ones.

~ Roedy (1948-02-04 age:70)