Firsts in Payment History: Internet PIN Debit

Another milestone in payment technology history: the first ever software-based PIN debit transaction over the Internet

Category:

Science & Technology

Tags:

• payments
• PIN debit
• software
• history
• milestone
• Internet
• Acculynk

[braytinerr]

Eu naum intendi NADA porra????

num intendi porra nenhuma seu merda

[averagemon]

This is nothing new and they did not invent it. The technology was first demonstrated in 2002 to the credit networks (Visa, MasterCard, Amex and Discover) and the debit networks (STAR, NYCE, PULSE, etc..), the very same ones you see on the back of any bank issued debit or credit card. And has been in use since 2004.

[averagemon]

The technology was first demonstrated in 2002 to the credit networks (Visa, MasterCard, Amex and Discover) and the debit networks (STAR, NYCE, PULSE, etc..), the very same ones you see on the back of any bank issued debit or credit card. And has been in use since 2004. The major banks will not accept this because it is too secure thereby reducing the banks revenue. NO bank will cannibalize their existing card portfolio revenue for less money just to make you secure!

[averagemon]

You are absolutely correct. The bank that issued you your card makes more than 2% on every transaction you do on the internet. If you use a PIN, they make pennies. The lower the risk (a PIN based transaction) the lower the fee they can charge a merchant for that transaction. The networks and the bank are always encouraging you to make a signature transaction you never see them advertize a PIN based transaction, do you?

[averagemon]

You are absolutely correct. Someone has and did in 2002 and demonstrated it to the credit networks (Visa, MasterCard, Amex and Discover) and the debit networks (STAR, NYCE, PULSE, etc..), the very same ones you see on the back of any bank issued debit or credit card. And it was rejected because it was too secure and reduced the banks revenue.

[christal522811]

That is cool!!!

[Kumbrick]

Looks too good to be true...

[YonderOver]

this is digital to paypal's analog- mad props

[HarryH345]

A metaframe is that smoky screen you get around a window where you stay at the same url and same webpage. It requires advanced programming techniques. Mapquest and Netflix use them too.

[Dflorentine]

I'm sorry, I failed highschool hacking. What exactly is a metaframe?! :/