Secure transactions (on or off the internet) with a credit card
How can I make credit card transactions secure?
I have read about how hopelessly insecure credit cards are, and was wondering if there is a solution.
I am in the UK
Some things that I have found, that claim to make transactions secure, but don't.
Secure Credit cards
These are the opposite of what you would think. This is a way to let the credit card company take your house, if something goes wrong. The bank is securing them self with your house (or other asset).
Emue:
In Europe there is a product that uses it, Visa CodeSure.
Users input their card number when purchasing online, flip the card
over and turn on the screen.
They then input their pin, and a unique one-time-passcode appears on
the display, which is used by the cardholder to authenticate the
purchase or payment.
So basically, you hand over the keys, then do some other stuff that may deny you access. Your keys (card number) can still be used on the thousands of sites that don't use this scheme.
Also it seems to be a replacement to using a separate card reader, thus going in the wrong direction to allow a usb reader, and automation.
Visa CodeSure does away with these card readers and replaces the
current Verified by Visa system for those using the new card.
It also seems to be increasing the amount of techno-junk.
I think it will reduce fraud, however I don't think it will make transactions secure.
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My ideas
One time use credit cards.
Text me on transaction cards.
Pre-paid cards: limited exposure.
Secure transaction cards ( I suspect these would be incompatible with the existing system)
What I have found (I will add more, when I find them)
I am not recommending any. This is just what I have found, in my search.
Virtual credit cards
e.g.
www.barclaycard.co.uk/business/cards/virtual (UK)
Privacy.com
General purpose gift card
e.g.
visa gift card
Notify on use
Some card providers will send a text, when the card is used. The ones I have seen send only if a single purchase is over £25 (so a criminal can make hundreds of purchases of £24.99, without you knowing). They don't seem to understand the idea of “when £25 is spent since the last text”.
Other
Google virtual credit cards and also consider prepaid debit cards. — @Bob Baerker (comment copied here)
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