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Card fraud datamine?

18 December 2009 1 comment

Retired member

Is this new service a mine of information for anybody that wants to access valid payment card numbers in order to use these for fraudulent on-line purchases? Or is the service PCI compliant thus making it impossible for anybody to access or use the underlying card number including the administrator of the service?

If yes, card numbers can be stolen, then this service well complements the service where a mag stripe reader can be connected to an I phone and act as "payment terminal" since there a fraudster can access physical card details by imposing as a "merchant" with the I phone + card reader and now also get card numbers for e - commerce fraud from the communities where people file them!

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Comments: (1)

Ainsley Ward Vice President, Payments Solutions at CGI

21 December 2009

It took me a while to work out what they're trying to achieve, but basically it seems to work a bit like the SMS notifications for transactions - and instead of outputting to your phone, it sends your line item detail to a pre-defined twitter account.

From a consumer POV it seems a bit like bragging - which really is soooo 2007... "Read my Twitter and see all the wonderful things that I'm buying." It's all a bit pre-crisis really.

However, as a mechanism it does have some really interesting potential so perhaps we'll see some new apps coming in the notifications sector in the near future. I've made my feelings known about SMS applications in the past and this seems to be the first way that web communications are being leveraged in an effective way to overcome the issues with SMS.

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