So I read today that a guy, a known hacker in fact, has been charged in the US with rifling 130 million card details from various agencies and stores and he is about to go to jail for a long time.
Story here. This is the pits don't you think? How long have we got to put up with business and governments telling Joe Public that it's ok, we have it covered, trust us and you won't have any problems when you make a payment via our payment services?
Well it's not alright! It's time for a new way of conducting payment transactions and it needs to involve a technical disconnect so that whoever has the card details cannot use them without a guaranteed way of authentication.
If we can spend billions, yes billions of dollars on anti fraud systems and get this kind of return then we can spend billions replacing it so that it works...don't you think?
The vested interests in today's so called solutions should pack their bags and go home in shame.