visa making cc fraud easier (article)

[Dawgy]

http://www.theregister.co.uk/2004/04...ss_creditcard/

Consumers in Malaysia will soon be able to pay for their shopping with contactless, EMV standard smart cards, as Visa does away with the need for a signature with the launch of its new system, Visa Wave.

The company is running a four-month trial with 2000 Visa customers and over 150 merchants. The idea behind it (apart from selling lots of card readers) is to speed up the payment process. This, Visa hopes, will encourage people to use their cards more often in place of cash. Cardholders just need to wave their card near (within 4cm) the reader and the transaction goes through.

not that this affects us... but its interesting to see visa pushing to have people use credit cards without any ID or signature....