Fraud Protection and E-commerce

Fraud Protection in the short term

The bad guys who have these data debit cards are not going to attack online merchants for goods that will convert into cash. They were standing directly at the ATM for the dollar green.

The impact on CNP merchants around the world will be minimal, certainly not more than a few credit card numbers, but probably not. I do not think I feel a lot traders CP. Consumers, on the other hand, are going to take a big hit. As you probably know, the responsibility of credit card holder is limited to $ 50 under the FTC rules, but I do not think that there is a limit to debit cards. The cardholder is responsible for keeping your PIN private and shame on him if he comes out and does not report the card stolen.

And yes, the banks will almost certainly do what they can to keep their paper with the satisfaction of customers, especially if the account cleaned can be traced to a PIN is compromised by those who shakes his head. That

Fraud Protection in the long term

The major concern for the retailer, online and off, is whether consumer confidence disappearing. We have already confirmed that confidence in online transactions is down a bit '. This first debit (PIN compromise by itself is able to survive, but if it turns out that was not one time thing and we suddenly found that PIN transactions are not as safe as once thought. Well, then for line operators are in trouble and bricks and mortar could be in trouble as well.

And I wonder how long the banks are able to calm their debit cardholders. When you begin to pass the losses to holders of paper as if they already submit them to online merchants now? It could become a matter of survival.