Smart Cards, Smarter Ideas
from the just-ask-for-my-password dept
We were just talking about how few consumers really care that much about smart cards for a variety of reasons. Now Visa is coming out with a new system that they say will help cut down on credit card fraud without going through the whole smart card set up. The idea is pretty simple: make people use a password with their credit card for online purchases. Seems like a great idea to me. Others, however, aren’t so sure. They’re afraid that consumers will find this even more annoying, and it will make fewer people complete orders. They’re also worried about the cost of setting up such a system – and the perceived benefits to merchants who will have to pay some of that bill.