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American Express Seeks To Swap Card Numbers For Secure Tokens

Posted by Soulskill on from the teaching-an-old-dog-old-tricks dept.

jfruh writes: One of the fundamental problems of the electronic payment business is that it's by and large based on the fundamentally insecure infrastructure of the credit card system, where anyone who has your 16-digit card number can make purchases on your account. American Express is trying to improve its security by moving towards the use of unique tokens for online purchases.

1 of 130 comments (clear)

  1. Re:Get rid of numbers by Andy+Dodd · · Score: 5, Interesting

    You just described EMV, which all retailers will be effectively required to accept by October 2015 in the US. (It's not completely mandated, but the fraud liability shift effectively mandates it. After Oct. 1 2015, *retailers* will be fully liable for magstripe fraud.)

    EMV is widespread in Europe, it's been slowed down due to political bullshit from MCX in the USA.

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    retrorocket.o not found, launch anyway?