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- - SERIOUS THREAD- I might have a solution to online credit card fraud (https://gfy.com/showthread.php?t=668363)

Quote:

Originally Posted by FleshJosh (Post 11119876)

Etrade has this pretty cool thing where when you go to login to your account, you enter your username/password then it asks you to input the code from a keychain/keyfob thing they give you when you sign up. They send a code that is good for 30 seconds to the keychain. It seems that if credit cards had this same type of system or something similar, it could be pretty useful in stopping fraud.

yeah. my aol account has this. im not sure why my bank account/visa doesnt.

Quote:

Originally Posted by Evil Doer (Post 11117602)

You've been working on this idea for months?

I don't quite understand... your idea is to eliminate using a credit card number and replace it with something new?

Sign Language?

you know...there is...verified by visa...

Quote:

Originally Posted by eddie-executive (Post 11117082)

In a nutshell I am eliminating using credit card numbers online.

cool idea

the girl who jerks you off in your car for 80 bucks because she needs to pay her cell phone bill, would be impressed

Whatever it is... can be social engineered or hacked somehow.
Any info that someone types in or knows can easily be gotten on phishing pages by the thousands.`

In theory it sounds ok.

I have the solution and have for over a YEAR no

it's called

http://www.purevanilla.com

:pimp

Quote:

Originally Posted by Kimmykim (Post 11120679)

Lots of misinformation in here.

1. CVV2 is not stored in a database, it's expressly prohibited to store the data anywhere, and the punishment for a violation is losing your merchant account.

This is how I understood it as well, but the interesting thing is that when informing several companies of my new CC number, two of them asked for the CVV2. These are for regular monthly payments which may not necessarily be the same amount each time. Is there some sort of pre-verification where they can pass the details once-off to say "customer has authorised future charges without CVV2" or is it likely they're storing it?

edit: just realised it's an old thread... still, interested to hear what anyone in the know has to say about the above.

50 solutions to online credit card fraud

American express blue card require card reader otherwise credit card wont work.It's also called "safe credit card for internet"Toobad it's not easy avaible.

Quote:

Originally Posted by Cassie (Post 11118289)

i had this discussion with cardservice the other day.

one of the main reasons verified by visa and master card security code hasn't been implemented is because it hasn't been required to be implemented by the card holder's bank or merchant banks (although humboldt and now cardservice are pushing the system a bit more to their merchants).

second reason is that the smaller banks can't necessarily afford to implement the system.

third reason is because First Data (which is like congress to the credit card association) is in negotiations to force this system to be implemented but they are taking their time doing so (various contractual negotiations, blah blah blah).

we have this system on our various retail sites through cardinal commerce and it seems to work out well with cb ratios. however, until merchant banks and cardholder banks are required to offer this system, you won't see much of it because most cannot afford to implement this system.

btw, i received this information when i discussed it with both the director of cardinal commerce and the director of cardservice NE division.

The rest of this answer is that V/MC won't pay First Data or the issuers any extra transaction fee for a Verified by Visa transaction. There's no incentive right now for the issuer or aquirer to implement it as a requirement plus they're making coin on the chargeback fees !.