A South Korean company called Shinhan Card unveiled yesterday a new kind of USB CREDIT CARD. The device functions as a contactless credit card at stores. In order to use it for online purchases, you just insert it into your PC's USB drive. It enters your credit card information for you.
11:35 AM * PERMALINK * 8 comments
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Comments:
This device sounds dangerous and unsecure. I would not like to have a "device" entering my credit or debit information without knowing exactly what it is entering.
Another question, so if a person has to insert it on their own computer, does one have to take their computer shopping with them? That's the way it sounds from the article.
the above response is the reason why many americans are the last to adapt technology... even mobile phones and convenient stores in asia well surpass the convenience of what we have today. Do you know, in Taiwan, you can pay your phone bills at any convenient or department store? all cash registers are hooked up to a central registrar... you go to your local grocery store to pay your phone bills, electric bills, gas bills, cable bills... you name it. it beats having to go to the post office and buying stamps. they even give you a receipt that you can keep for record.
to the above poster, did you even look up how the device works? it uses an IC chip. if you didn't know, they are a common thing in Asia and are quite secure for banking, credit card transactions, etc.
if you claim, well what if the device gets stolen? What if your credit card gets stolen? it can still get randomly swiped of course.. but you have protection from the Credit card company to deny those purchases.
American Express in the U.S. tried to spread around the use of an IC chip card and even gave you free IC card readers for your PC.. but not many people felt it was safe when it actually was. Most trojans look at keystrokes. To steal information from an IC card reader, you'd have to break the encryption that's used to communicate between device and the data that's sent. much more secure than typing your credit card info.
I think the usb card is a cool idea, I never thought about the key stroke thing being the weak link. However, I have to admit that the first response above hit the nail on the head about taking the computer shopping with you. The original article needed serious editing from a native English speaker, or one who can catch all the subtle mistakes!
the article does mention that the usb is for purchasing on computers only.
but it says that the card comes with an IC chip.. IC chip means that it's like an RFID.. you tap it on a proximity sensor (has to be very close) for the card to read.
I'm getting the hunch that this is a bad idea. I love technology as much as the next guy, but the internet is very unsafe. This could make the threat of identity theft, and credit card fraud even greater.
How is this *less* secure? I had my credit card number stolen (not the physical card, just the number). Done properly (especially using a time of day hash algorithm) this eliminates the need for a number and I'd have to lose the actual dongle to have it used. And we're no longer limited to a 16-digit card number and three digit "super secret" code that everyone now asks for, nothing prevents them from sending a huge encrypted string for authorization.
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Hello, happy new 2008. I am sure that this new tool will be more secure than credit cards. The reason is that you may not be stolen if some thief is asking for your number and code online. Young people will be able to pay for food at school, for travels, for furnitures and their parents will know better what they need. This may be very interesting for business travelers as they can make instant payment for invoices. Any familly will be able to pay for their hotel and transport from many hotels in the world. It a great new tool. http://reporter.co.nr
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