Credit Card Chip Technology and Security - Revision history

Aum2 at 05:22, 9 April 2009

2009-04-09T05:22:33Z

← Older revision		Revision as of 05:22, 9 April 2009
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	==Terms==		==Terms==
-	'''PIN''' - Personal Identification Number<BR>	+	'''PIN''' - Personal Identification Number<sup>[1]</sup><BR>
-	'''SIM''' - Subscriber Identity Module	+	'''SIM''' - Subscriber Identity Module<sup>[2]</sup>

	==References==		==References==
-	[http://en.wikipedia.org/wiki/Personal_identification_number PIN (Personal Identification Number)]<BR>	+	[http://en.wikipedia.org/wiki/Personal_identification_number 1. PIN (Personal Identification Number)]<BR>
-	[http://en.wikipedia.org/wiki/Subscriber_Identity_Module SIM (Subscriber Identity Module)]	+	[http://en.wikipedia.org/wiki/Subscriber_Identity_Module 2. SIM (Subscriber Identity Module)]

	==See Also==		==See Also==

Aum2 at 05:16, 9 April 2009

2009-04-09T05:16:10Z

← Older revision		Revision as of 05:16, 9 April 2009
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	[http://www.thestar.com/Business/article/176097 Chip-based cards may cut into fraud]<BR>		[http://www.thestar.com/Business/article/176097 Chip-based cards may cut into fraud]<BR>
	<BR>		<BR>
-	[[User:Aum2\|~~Aum2~~]] 01:14, 9 April 2009 (EDT)	+	[[User:Aum2\|Matthew Au]] 01:16, 9 April 2009 (EDT)

Aum2 at 05:14, 9 April 2009

2009-04-09T05:14:05Z

← Older revision		Revision as of 05:14, 9 April 2009
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	==References==		==References==
-	[http://en.wikipedia.org/wiki/Personal_identification_number\|PIN (Personal Identification Number)]<BR>	+	[http://en.wikipedia.org/wiki/Personal_identification_number PIN (Personal Identification Number)]<BR>
-	[http://en.wikipedia.org/wiki/Subscriber_Identity_Module \| SIM (Subscriber Identity Module)]	+	[http://en.wikipedia.org/wiki/Subscriber_Identity_Module SIM (Subscriber Identity Module)]

	==See Also==		==See Also==
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	[http://www.ctv.ca/servlet/ArticleNews/story/CTVNews/20080604/credit_card_080604?s_name=&no_ads= Chip technology help foil credit card fradusters]<BR>		[http://www.ctv.ca/servlet/ArticleNews/story/CTVNews/20080604/credit_card_080604?s_name=&no_ads= Chip technology help foil credit card fradusters]<BR>
	[http://www.thestar.com/Business/article/176097 Chip-based cards may cut into fraud]<BR>		[http://www.thestar.com/Business/article/176097 Chip-based cards may cut into fraud]<BR>
		+	<BR>
		+	[[User:Aum2\|Aum2]] 01:14, 9 April 2009 (EDT)

Aum2 at 04:56, 9 April 2009

2009-04-09T04:56:42Z

← Older revision		Revision as of 04:56, 9 April 2009
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	==References==		==References==
		+	[http://en.wikipedia.org/wiki/Personal_identification_number\|PIN (Personal Identification Number)]<BR>
		+	[http://en.wikipedia.org/wiki/Subscriber_Identity_Module \| SIM (Subscriber Identity Module)]

	==See Also==		==See Also==

Aum2 at 04:51, 9 April 2009

2009-04-09T04:51:29Z

← Older revision		Revision as of 04:51, 9 April 2009
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	==Controversies==		==Controversies==
	A main concern is the cost of implementation. For example, it costs millions of dollars to fully utilize the system in Canada. Does the benefits overcome the costs? In addition, some clients mentioned that they already have enough numbers and passwords to memorize, an extra will not be any better. Lastly, there would be no difference in terms of Debit Cards (Bank Cards) and Credit Cards once the chip is used.		A main concern is the cost of implementation. For example, it costs millions of dollars to fully utilize the system in Canada. Does the benefits overcome the costs? In addition, some clients mentioned that they already have enough numbers and passwords to memorize, an extra will not be any better. Lastly, there would be no difference in terms of Debit Cards (Bank Cards) and Credit Cards once the chip is used.
		+
		+	*Benefits vs. Costs
		+	*PIN vs. Signatures
		+	*Credit Card vs. Debit Card

	==Terms==		==Terms==

Aum2 at 04:49, 9 April 2009

2009-04-09T04:49:54Z

← Older revision		Revision as of 04:49, 9 April 2009
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	==Benefits==		==Benefits==
		+	[[Image:Prevent_fraud.jpg\|thumb\|200px\|right\|
		+	Prevents Fraud]]
	Credit Card Chip makes the current transaction system more secured. The Chip technology and PIN number are just an additional layer to the many layers of the current security system. For each transaction, the embedded chip generate a unique encrpyed transaction number to greatly reduce chance of fraud. Some of the many benefits include:		Credit Card Chip makes the current transaction system more secured. The Chip technology and PIN number are just an additional layer to the many layers of the current security system. For each transaction, the embedded chip generate a unique encrpyed transaction number to greatly reduce chance of fraud. Some of the many benefits include:

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	==Controversies==		==Controversies==
-	A main concern ~~with these kind of implementation~~ is the cost. For example, it ~~will cost~~ millions of dollars to fully utilize the system in Canada. Does the benefits overcome the costs? In addition, some clients mentioned that they already have enough numbers and passwords to memorize, an extra will not be any better. Lastly, there would be no difference in terms of Debit Cards (Bank Cards) and Credit Cards once the chip is used.	+	A main concern is the cost of implementation. For example, it costs millions of dollars to fully utilize the system in Canada. Does the benefits overcome the costs? In addition, some clients mentioned that they already have enough numbers and passwords to memorize, an extra will not be any better. Lastly, there would be no difference in terms of Debit Cards (Bank Cards) and Credit Cards once the chip is used.

	==Terms==		==Terms==
-	PIN - Personal Identification Number<BR>	+	'''PIN''' - Personal Identification Number<BR>
-	SIM - Subscriber Identity Module	+	'''SIM''' - Subscriber Identity Module

	==References==		==References==

Aum2 at 04:47, 9 April 2009

2009-04-09T04:47:14Z

← Older revision		Revision as of 04:47, 9 April 2009
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	==What is Credit Card Chip?==		==What is Credit Card Chip?==
		+	[[Image:creditcardchip.jpg\|thumb\|right\|
		+	Credit card with chip embedded]]
	===Chip and PIN Technology===		===Chip and PIN Technology===
	The card being implemented with the technology will have a microchip integrated into it. According to a major credit card issuer, these chips are virtually impossible to duplicate.The purpose of this chip is to provide consumers with better seucurity measures.		The card being implemented with the technology will have a microchip integrated into it. According to a major credit card issuer, these chips are virtually impossible to duplicate.The purpose of this chip is to provide consumers with better seucurity measures.

Aum2 at 04:38, 9 April 2009

2009-04-09T04:38:15Z

← Older revision		Revision as of 04:38, 9 April 2009
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	==Terms==		==Terms==
-	~~<pre>~~PIN - Personal Identification Number	+	PIN - Personal Identification Number<BR>
-	SIM - Subscriber Identity Module~~</pre>~~	+	SIM - Subscriber Identity Module

	==References==		==References==
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	==External Links==		==External Links==
-	~~<nowiki>~~	+	[http://www.anz.com/aus/personal/credit-cards/security/chip-cards/default.asp#1question2 Chip Cards]<BR>
-	[http://www.anz.com/aus/personal/credit-cards/security/chip-cards/default.asp#1question2 Chip Cards]	+	[http://www.visa.ca/chip/ Introduce the Added Security of Chip and PIN]<BR>
-	[http://www.visa.ca/chip/ Introduce the Added Security of Chip and PIN]	+	[http://www.visa.ca/chip/cardholders/benefitsofchippin/ Benefits of Chip and PIN]<BR>
-	[http://www.visa.ca/chip/cardholders/benefitsofchippin/ Benefits of Chip and PIN]	+	[http://en.wikipedia.org/wiki/Smart_card#History Smart Card Wiki]<BR>
-	[http://en.wikipedia.org/wiki/Smart_card#History Smart Card Wiki]	+	[http://www.thestar.com/Business/article/533522 New 'chip' credit cards stir security issues]<BR>
-	[http://www.thestar.com/Business/article/533522 New 'chip' credit cards stir security issues]	+	[http://www.ctv.ca/servlet/ArticleNews/story/CTVNews/20080604/credit_card_080604?s_name=&no_ads= Chip technology help foil credit card fradusters]<BR>
-	[http://www.ctv.ca/servlet/ArticleNews/story/CTVNews/20080604/credit_card_080604?s_name=&no_ads= Chip technology help foil credit card fradusters]	+	[http://www.thestar.com/Business/article/176097 Chip-based cards may cut into fraud]<BR>
-	[http://www.thestar.com/Business/article/176097 Chip-based cards may cut into fraud]	+
-	<~~/nowiki~~>	+

Aum2 at 04:33, 9 April 2009

2009-04-09T04:33:53Z

← Older revision		Revision as of 04:33, 9 April 2009
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	==External Links==		==External Links==
-	[nowiki]	+	<nowiki>
	[http://www.anz.com/aus/personal/credit-cards/security/chip-cards/default.asp#1question2 Chip Cards]		[http://www.anz.com/aus/personal/credit-cards/security/chip-cards/default.asp#1question2 Chip Cards]
	[http://www.visa.ca/chip/ Introduce the Added Security of Chip and PIN]		[http://www.visa.ca/chip/ Introduce the Added Security of Chip and PIN]
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	[http://www.ctv.ca/servlet/ArticleNews/story/CTVNews/20080604/credit_card_080604?s_name=&no_ads= Chip technology help foil credit card fradusters]		[http://www.ctv.ca/servlet/ArticleNews/story/CTVNews/20080604/credit_card_080604?s_name=&no_ads= Chip technology help foil credit card fradusters]
	[http://www.thestar.com/Business/article/176097 Chip-based cards may cut into fraud]		[http://www.thestar.com/Business/article/176097 Chip-based cards may cut into fraud]
-	[/nowiki]	+	</nowiki>

Aum2 at 04:33, 9 April 2009

2009-04-09T04:33:18Z

← Older revision		Revision as of 04:33, 9 April 2009
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	==External Links==		==External Links==
		+	[nowiki]
	[http://www.anz.com/aus/personal/credit-cards/security/chip-cards/default.asp#1question2 Chip Cards]		[http://www.anz.com/aus/personal/credit-cards/security/chip-cards/default.asp#1question2 Chip Cards]
	[http://www.visa.ca/chip/ Introduce the Added Security of Chip and PIN]		[http://www.visa.ca/chip/ Introduce the Added Security of Chip and PIN]
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	[http://www.ctv.ca/servlet/ArticleNews/story/CTVNews/20080604/credit_card_080604?s_name=&no_ads= Chip technology help foil credit card fradusters]		[http://www.ctv.ca/servlet/ArticleNews/story/CTVNews/20080604/credit_card_080604?s_name=&no_ads= Chip technology help foil credit card fradusters]
	[http://www.thestar.com/Business/article/176097 Chip-based cards may cut into fraud]		[http://www.thestar.com/Business/article/176097 Chip-based cards may cut into fraud]
		+	[/nowiki]