SERIOUS THREAD- I might have a solution to online credit card fraud

i had this discussion with cardservice the other day.

one of the main reasons verified by visa and master card security code hasn't been implemented is because it hasn't been required to be implemented by the card holder's bank or merchant banks (although humboldt and now cardservice are pushing the system a bit more to their merchants).

second reason is that the smaller banks can't necessarily afford to implement the system.

third reason is because First Data (which is like congress to the credit card association) is in negotiations to force this system to be implemented but they are taking their time doing so (various contractual negotiations, blah blah blah).

we have this system on our various retail sites through cardinal commerce and it seems to work out well with cb ratios. however, until merchant banks and cardholder banks are required to offer this system, you won't see much of it because most cannot afford to implement this system.


btw, i received this information when i discussed it with both the director of cardinal commerce and the director of cardservice NE division.