Wi fi enabled Debit and Credit cards

[Benjamin]

Others may have already seen this or there may already be a thread about it but I've just looked at the accompanying (American) video link and I find it scary. I've already found cards having R F id. symbols and they are going.

http://youtube.googleapis.com/v/lLAFhTjsQHw%26sns=em

[Pierre ZFP]

This credit card thing has been known for years.  In fact it isn't wi-fi but a totally different protocol, RFID, same sort of thing you get in security tags in shops.

In fact, my son wrote an application for his Galaxy smartphone and he can read this info from cards.  Early cards did broadcast 'in the clear' but did not include the CVV number or the name so the info is useless.  Newer cards encrypt the data and then send a dummy string. Also, you can't read them if there's more than one card stacked up despite what the video showed.  So, yes it's partly true but nothing to be concerned about.

You can read more HERE

[Benjamin]

Thanks for the update Pierre.  [:D]

The only thing I'd read about this Wi fi system of just scanning the card without entering the PIN seemed to be saying that it was only for low value purchases ( up tp £15?) whereas the video link I gave talks about purchases of $100's.

I suppose if you're jumping on and off the tube or in and out of coffee shops then it might save time. For me, I'm not interested and, although I'm no Luddite, it's an advance in technology that I can live without so  the cards I've got showing the symbol are still going.

What bothers me about the introduction of this type of technology is that when it's introduced the fraudster sits down and, in some cases quite easly, works out how to defraud. It's then not until Mark 11 or Mark 111 is introduced that the issuer works out how to make it foolproof, or at least to make it difficult enough so that they contain their losses from fraud at an acceptable level.