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Originally posted by Masturbationman
Second:
When CVV2 is perfected the credit card companies wont have to put the blame on the webmaster. It will be put on the issuing banks. This is still about 2 years away. All internet buyers will have a private pin like ATM within 2 years. This will solve most problems and charge back issues, but the technogy is new.
Masturbation Man
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Um, not sure where you get your information but CVV2 has nothing to do with a pin number. Its the printed number on the back of the card, more specifically the 3 digit number that Mastercard doesn't make one of its huge issuers like Paypal be compliant with for the cards to work... no point in having it there if the card company isn't going to enforce compliance with the system.
The pin number system is called Verified by Visa, it's not 2 years away, it's already in use by some banks like Bank of America. I give VbV about 6 months in actual widespread use before it's dropped from the system, especially when the banks are not disclosing to consumers that by registering their cards with the PIN they are losing their right to charge back online purchases. I'm sure it's in the fine print somewhere, but God forbid the surfer would have to read that fine print to find out according to some here.
How do I know this? I used 1800flowers.com and a B of A Visa and after the purchase I was hit with two pops -- one for a subscription to a magazine with all my info pre-populated into the fields, INCLUDING cc number, and another from B of A, asking me to register my card for 'zero liability' on the internet.