Tuesday, July 23, 2013

Will chip-based cards succeed in reducing credit card fraud?

.......The embedded chip is capable of storing and transacting data in an encrypted, tamper-proof format, protecting the cardholder from sundry security threats. The advanced technology apart, the RBI has mandated banks to introduce an additional layer of security at POS terminals as well. Cardholders will be required to enter a unique PIN to complete any transaction.........

No comments: