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Every now and then when I purchase something from a Verified by Visa-"friendly" site (Newegg comes to mind), I often find that I'm able to complete the purchase without entering my password. It's disturbing to say the least.
This is just begging for copycat phising and MITM attacks.
Even though there's no choice (here at least, when you want to use your Visa over the internet) I HATE, HATE, HATE the concept and here's why: For starters I thought it's a phishing attack, when the frame popped up for the first time. But the worst is that I don't feel it protects me, despite the marketing crap dished out by CC companies. The only reason is to protect Visa. What happens if I book a flight at a badly…
Does VbV make this any worse? It's very difficult to protect against (other than "never use untrusted computers").
Even though there's no choice (here at least, when you want to use your Visa over the internet) I HATE, HATE, HATE the concept and here's why: For starters I thought it's a phishing attack, when the frame popped up for the first time. But the worst is that I don't feel it protects me, despite the marketing crap dished out by CC companies. The only reason is to protect Visa. What happens if I book a flight at a badly…
Essentially all financial risk for credit card transactions is borne by the merchants. (Which is one reason why the banks don't seem to do much about fraud -- why should they inconvenience their customers to protect someone off of the balance sheet who doesn't get a choice to not use their bank?)
Even though there's no choice (here at least, when you want to use your Visa over the internet) I HATE, HATE, HATE the concept and here's why: For starters I thought it's a phishing attack, when the frame popped up for the first time. But the worst is that I don't feel it protects me, despite the marketing crap dished out by CC companies. The only reason is to protect Visa. What happens if I book a flight at a badly…
That is, in fact, the exact opposite of how the banks operate. You are limited to $50 in liability for any fraudulent transaction in your account that you report in a timely fashion, guaranteed by law (in the US at least), and every bank I am aware of waives the $50 for marketing purposes. Essentially all financial risk for credit card transactions is borne by the merchants. (Which is one reason why the banks don't s…
http://banking.about.com/od/checkingaccounts/a/stolendebitca...
This is why I never use a debit card for anything.
We now return you to your regular HN programming.
Until 3DS implements some out-of-band authentication, you won't have something secure. Implementing OoB auth isn't difficult, either. The technology has been around for a LONG time, with proven results.