Nearly Every Credit Card Machine Is at Risk Of being Hacked

Nearly Every Credit Card Machine Is at Risk Of being Hacked

Next time you're paying for some of your consumer grade what-have-yous, you might think twice when your cashier asks, "credit or debit?" As CNN reports, credit cards are not a secure form of payment. Nearly all of them are at risk of being hacked. 90% of credit card readers currently use the same password. Lack of responsibility and apathy are leading to the problem. "No one is changing the password when they set this up for the first time; everybody thinks the security of their point-of-sale is someone else's responsibility," Trustwave executive Charles Henderson said. "We're making it....


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Simplex Offers Bitcoin Exchanges Risk-Free Credit Card Purchase Solution

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New prepaid credit card funded by bitcoins

Prepaid credit cards are not new. However, a prepaid credit card that can be funded with bitcoins is. The BitcoinCard is a credit card that can be funded via BTC. Don't get too excited though, as this card does not let you transmit bitcoin via the card. Despite the website's UK top level domain, the company informed us that the card primarily holds Euros. When we contacted The Bitcoin Company, who are offering this card, a representative told us: "The card works as a normal prepaid credit card. The difference is users can buy it with bitcoins, and fund it with bitcoins." It's not clearly....

Credit Cards Have Not Evolved With the Internet. Enter Bitcoin.

The credit card has a lengthy history. One of the first iterations of plastic was actually made of sheet metal. It was called the Charga-Plate, developed in 1928. It was issued to frequent customers by merchants in the same way that department stores today give out credit cards. To record a transaction a merchant would place the Charga-Plate into a device that allowed a paper charge slip to be laid on top of it. An inked ribbon would then be run on top of the paper, creating a record of the sale. This method of credit card processing was used for years until the digital revolution arrived.....

The 'Amazon.com' of Bitcoin

In an article published in TopStockAnalysts, analyst Jody Chudley argues that the high cost of credit card fraud will drive many merchants to Bitcoin. And if merchants prefer Bitcoin then consumers will adopt it and, so, the outcome is that a lot of today's Bitcoin startups' stock prices will soar. BitcoinShop.us is, according to the analyst, ideally positioned and here's why. Credit Card Fraud Plagues Retail. A 2009 study by Lexis Nexis shows that US merchants lose about $190 billion per annum to credit card fraud. A recent example involved the online retailer Target who's database was....

36% of Singaporeans Face Card Fraud, New Report Reveals

ACI Worldwide, a Florida-based payment system firm, has released a study which revealed that more than one third of Singaporeans have faced card fraud since 2014. The statistic demonstrates the seriousness of the underlying vulnerabilities discovered in the security systems of credit card operators and credit card networks. Technically, when a credit card purchase is made either online or at a physical location, the private key of the credit card is retrieved by the processing party. That means, the business or person receiving the credit card payment holds the responsibility of storing....