I don’t think there is in terms of process, I think payment handlers just add a higher charge for processing credit card payments, which is why stingy retailers dislike them.
I’m happy to be corrected though.
PhobosAnomaly
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Cake day: July 1st, 2023
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Sorry, maybe I wasn’t clear.
I’m assuming the 16 digit card number, start and expiry dates, and CVV are printed on the reverse - whereas it used to only have the CVV on the reverse and the rest of the details on the front.
What’s stopping someone with a picture of the rear of the card visiting an online retailer and going wild with a picture of just one side of the card these days - aside from multi-factor authentication at the point of authorising the payment?
Absolutely spot on, thank you - always handy to know.
I’m wondering what it does to mitigate the “card not present” fraud though, for online purchases or remote purchases?
As entertaining as that is, it does raise the question - why do they put all of the details on the back now?
I thought one of the main reasons that the CVV was on the signature strip was so if a card was photocopied, photographed, or carbon copied (literally on carbon paper), then it was still less possible to clone the card.
Is “physical” cloning so small of a problem now that it’s more beneficial to make fancy looking cards? Anyone in the industry able to shine a light?
Awesome. I miss the raised numerals on the front of the card.