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The underground world of credit card network exploitation

chargebackstop.com

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Re: The underground world of credit card network exploitation

#61

Post by pimpl »

BaseballPhysics wrote: post #50
pimpl wrote: post #32

Earlier quoted context omitted.

Article author here. I carefully reviewed and tested the ChatGPT scripts before executing them. It helped me save a lot of time manually writing these scripts! I wouldn't say I lack technical expertise in this area, I'm just trying to use my time as efficiently as possible.

Genuinely curious: How much time would you say you saved prompting for and then carefully reviewing and testing those scripts for bugs, versus writing them yourself? And for context what's the average line count we're talking about here? Tens of lines? Hundreds?

I'd estimate it that it saved me a couple of hours tops. They were simple, self-contained scripts with at most 150 LOC.

Re: The underground world of credit card network exploitation

#62

Post by mistrial9 »

nerdawson wrote: post #42

Why does the US seem so far behind when it comes to banking? - Chip and PIN has been in the UK since 2004 and mandatory since 2006. It wasn't until a decade later that the US caught up. - Faster Payments allow for instant bank transfers (usually) between any bank account for free. Receiving transfers from clients in US (even with a US Wise bank account) was always a nightmare. - Since the EU introduced Strong Custome…

> US seem so far behind when it comes to banking

"ahead" and "behind" halt thinking, and turn the entire topic into some kind of number-line position. It is not. This is complex and actors on both sides of the Atlantic are playing in bad faith to exploit changes. Second you ignore the roles involved. Mid-20s person with steady job is a smaller and smaller part of the system-in-fact, for many reasons. Some people say that working 20-somethings are abused and disenfranchised, including in the EU and elsewhere.

Re: The underground world of credit card network exploitation

#63

Post by BaseballPhysics »

pimpl wrote: post #61
BaseballPhysics wrote: post #50

Earlier quoted context omitted.

Genuinely curious: How much time would you say you saved prompting for and then carefully reviewing and testing those scripts for bugs, versus writing them yourself? And for context what's the average line count we're talking about here? Tens of lines? Hundreds?

I'd estimate it that it saved me a couple of hours tops. They were simple, self-contained scripts with at most 150 LOC.

Interesting! Thanks for the insight!

Re: The underground world of credit card network exploitation

#65

Post by ActivePattern »

nerdawson wrote: post #42

Why does the US seem so far behind when it comes to banking? - Chip and PIN has been in the UK since 2004 and mandatory since 2006. It wasn't until a decade later that the US caught up. - Faster Payments allow for instant bank transfers (usually) between any bank account for free. Receiving transfers from clients in US (even with a US Wise bank account) was always a nightmare. - Since the EU introduced Strong Custome…

As a Canadian, it does feel like stepping out of a time machine when you pay at restaurants in the USA. Instead of using a terminal at the table to pay yourself, you need to give the server your card and wait for them to manually process it somewhere. Maybe things have progressed in recent years. But we haven't done it that way in Canada since the early 2000's.

Re: The underground world of credit card network exploitation

#66

Post by kareemc »

chasebank wrote: post #40
pimpl wrote: post #34

Earlier quoted context omitted.

Article author here. Really valuable stuff, thanks for sharing! Do you handle this for Mastercard in any way? I've heard of Ethoca (they are really good at SEO), it seems quite similar to Verifi.

Ya, for Mastercard we use their Ethoca network. They are much more expensive, like $25 per resolved charge but now our chargeback rate is near 0% for Visa / MC and get incredible rates on the front end from such clean processing. Plus we never have to worry about chargebacks threatening our merchant account again.

[dead]

Re: The underground world of credit card network exploitation

#67

Post by somewhereoutth »

myself248 wrote: post #4

Why does the US still accept hand-typed cards? My friend had a USB smartcard reader in like 2001. He'd dip his AmEx to perform a transaction on his PC. It's twenty years later and the industry still hasn't caught up? What's different about Europe that they seem to have figured this out decades ago?

Europe is better organized, simply. People are tightly crammed together compared to the US, and historically were fighting each other for 'living space' instead of progressively occupying almost a whole continent. Things just have to work better - and by and large they do.

Re: The underground world of credit card network exploitation

#68

Post by TacticalCoder »

platelminto wrote: post #15
myself248 wrote: post #4

Why does the US still accept hand-typed cards? My friend had a USB smartcard reader in like 2001. He'd dip his AmEx to perform a transaction on his PC. It's twenty years later and the industry still hasn't caught up? What's different about Europe that they seem to have figured this out decades ago?

As someone whose lived in multiple European countries since I was born, I also don't understand this comment. I don't know anyone who uses these smartcard readers at home. I don't think it's common at all.

> As someone whose lived in multiple European countries since I was born, I also don't understand this comment. I don't know anyone who uses these smartcard readers at home. I don't think it's common at all.

Which EU countries? Bank card readers are super common in .nl (ING for sure) and .be (just about every single bank there) for example.

Nowadays banks often allow to use either that or, say, an app on your phone or a dedicated physical token. For example you can confirm transactions you make on your computer by unlocking an app and confirming with your fingerprint from your smartphone. But that's semi- recent. Before that kind of 2FA became a thing, it was all done with card readers.

Some countries still live in the past like, I shit you not, Societe Generale in France still has a "2FA" where it shows digits randomly on the screen and you have to click you PIN (some people still have an account like that): that is however quite pathetic and not the norm.

If I want to buy anything online using any one of my credit card, I must put it in a physical reader and reply correctly to a challenge/response.

These readers are different from the electronic ID card readers, which are also used in many EU countries (for example to fill my taxes online).

Re: The underground world of credit card network exploitation

#70

Post by TacticalCoder »

chpatrick wrote: post #13
myself248 wrote: post #4

Why does the US still accept hand-typed cards? My friend had a USB smartcard reader in like 2001. He'd dip his AmEx to perform a transaction on his PC. It's twenty years later and the industry still hasn't caught up? What's different about Europe that they seem to have figured this out decades ago?

I've lived in Europe my whole life and I've never made an online payment with a card reader (even though my ThinkPad has one), or know anyone who has.

But you do use 2FA when paying with your credit card online. What kind of 2FA does the bank providing your credit card mandate you to use?
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