Quote:
Originally Posted by CyberClaire
im trying to figure how visa verifies the code the card has produced ? does the card produce random digits or pre-stored digits ( if pre-stored..it makes it vunerable to be cracked !???).....looks neat but im totally lost on this concept.  |
it's a built in security token
http://en.wikipedia.org/wiki/Security_token
I have one of these for my biz bank account and also for an mmo video game (don't laugh) for fraud protection
in a nutshell - the tokens all have like a "id number" on them. i'm sure the number it generates is based on that and an internal algorithm or equation involving time. you register the id number with whatever company (bank) which also knows the equation, the two can generate the "one time password" whenever necessary.
they been around for a while - i've had my bank one (keychain kind) for 7-8 years. putting it on a card is brilliant
edit: damn you notime for beating me to it!!