Fighting Fraud with Contactless Payment — September 2009
The media response to the recently-released Smart Card Alliance position paper, “End-to-End Encryption and Chip Cards in the United States”, has been very interesting and explains a lot about how contactless payment is perceived in the market. If you haven’t read the paper, please do. It is one of the best deliverables the Smart Card Alliance has done. The main points in the paper are that end-to-end encryption (E2EE) means different things to different people in the payment ecosystem and that any talk about a new E2EE standard should be viewed in light of alternative fraud-reducing technologies already proven in the U.S. marketplace – namely contactless payment cards, stickers, and key fobs, and soon NFC-enabled mobile phones. Read more…