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New Debit Card
(sh.itjust.works)
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this post was submitted on 03 Nov 2024
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As entertaining as that is, it does raise the question - why do they put all of the details on the back now?
I thought one of the main reasons that the CVV was on the signature strip was so if a card was photocopied, photographed, or carbon copied (literally on carbon paper), then it was still less possible to clone the card.
Is "physical" cloning so small of a problem now that it's more beneficial to make fancy looking cards? Anyone in the industry able to shine a light?
This is an EMVCo chip card, and not an American one so it’s chip and pin most likely. Without getting too detailed, the chip generates a one time use code for each transaction, so just having the number wouldn’t help with cloning the card plus you also would need to know the PIN. Although skimmers still exist and physical card theft is a thing, it’s less common especially in markets that use chip and pin.
Absolutely spot on, thank you - always handy to know.
I'm wondering what it does to mitigate the "card not present" fraud though, for online purchases or remote purchases?
As far as I understand it the pin&chip system involves a challenge/response between the bank and the card. You can't just "clone" the chip, because the secret data it contains is essentially write-only.
Sorry, maybe I wasn't clear.
I'm assuming the 16 digit card number, start and expiry dates, and CVV are printed on the reverse - whereas it used to only have the CVV on the reverse and the rest of the details on the front.
What's stopping someone with a picture of the rear of the card visiting an online retailer and going wild with a picture of just one side of the card these days - aside from multi-factor authentication at the point of authorising the payment?
The CVV should really be 2FA from your card issuer.
Oh! In that case: absolutely nothing. Credit cards are terrifyingly insecure. Whether or not the info is on two sides or one. Any webshop you use your credit card at can just arbitrarily charge it from then on if they feel like it.
Most card allow you to set that transactions have to be approved either by app or by SMS.