Home chip and pin

[empip]

http://technology.guardian.co.uk/news/story/0,,2077983,00.html

All the big banks - except HSBC, which also controls First Direct - are to demand that online customers use "chip and pin at home" devices to identify themselves before moving money out of their accounts, in the biggest change to personal banking since chip and pin replaced signatures at the checkout.

Millions of hand-held card reading devices will be sent, free of charge, to bank customers over the next six months in the latest attempt to fight online fraud. Regular internet users will be the first to receive the devices, in which they will have to place their debit card before making any online banking transactions. Only balance inquiries, and payments to "known and trusted" big firms such as telephone and power companies will be possible without using the devices...
...The banks are concerned that instant money transfers - demanded in the government-sponsored Cruickshank report in 2000 - would expose them to greater fraud, and are introducing the hand-held chip and pin readers to combat the risk...

Changes are afoot ... But, as one door closes, another opens I wonder which?

 

[WoodYouLike]

Old news

Have been using a held hand reading and pin device for years now on our Dutch account when accessing the online bank.

 

[Steve]

I dont understand how that concept will work. The chip on chip and pin cards is capable of much more than simple chip and pin stuff, this is just one example.

 

[WoodYouLike]

I dont understand how that concept will work. The chip on chip and pin cards is capable of much more than simple chip and pin stuff, this is just one example.

This hand held reader and pin device gives you an unique login code per time you want to access your online account.

Crazy thing though: we had to 'rescue' one of our Dutch suppliers just this week when his Dutch debit card (normal bank card with chip and pin) wasn't working on a PDQ device at the local B&B.

Another bank in The Netherlands lets you store telephone numbers on their card so you can use them when making a call from a card-accepting payphone.

I agree Crafty, there are IMHO zillion ways to use pin and chip further.

 

[Steve]

Another thing - a lot of chip and pin readers in shops have "cash machine style" side buttons on the display, which normally aren't used - this is further proof that chip cards are capable of a lot of things. Telephone numbers/directories are one such possible use - if the shop will let you .

I'm with HSBC, so it'll be a few years until i see any improvements lol. Got my new Maestro card this week, they still haven't redesigned it after 4 years So boring. Their new Mastercards, though, are a nice svelte black colour now, instead of blue/green they had before. Might have to use the credit card instead now!

 

[breezer]

i saw a novel idea with a c & p card, a fraud investigation co, wanted to prove how easy the cards are to copy, and as said use for other things they made a card which enabled the card holder to use the card reader to play "tetris" (i think thats what its called) on the card reader

 

[Steve]

I saw that too breezer! Though I think that would only work on certain readers, with a suitable display and software.