American's "DEFINITELY" want security. In fact American's worry more about credit and debit card fraud than they do about a terrorist attack...according to a new report from Unisys.
So one has to ask...why are there applications that push convenience OVER security?
Because people "used" to like convenience. But one could easily argue that those days are over. "Sure it would be convenient to whisk through airport security without having to take off your shoes or take out your laptop, or get the frisk wand, but, like I said those days are over.
So I have another question...
If we accept security over convenience in the name of national security, AND we're MORE WORRIED about Credit and Debit card fraud than we are about National Security (see graph on left)... then doesn't it make sense that "security" is the most important variable when it comes to credit and debit card transacting?
Of course it does...right?
HomeATM has taken security to a new level for eCommerce. We can eradicate the worries associated with ALL credit and debit card fraud, at least when it comes to eCommerce.. Using military grade encryption, we 3DES the card information (including ALL the Track 2 data) AND utilize DUKPT key management, which further reduces the risk of a breach to (worst case scenario) ONE card.
Oh, getting back to convenience...let's pretend we're ignorant...and argue that security is unimportant, that "convenience" is the "key" to a sucessful payment application. Ready? Okay.
Agree or Disagree with this statement. "It's more CONVENIENT" to "TYPE" in my 14-16 digit credit card number...then have to type in my expiration date, then have to turn my card over and type in my CVV code ...
"OR" "It's MUCH more convenient to simply "SWIPE" my card."
What's your answer?
If you said, it's obviously more convenient to have to type in the 14-16 digits consisting of my Primary Account Number, then type in my expiration date data and follow that up with having to type in my CVV code, then you took my request to "pretend we're ignorant" too seriously...
If you said, "It's obviously faster and more convenient to simply "swipe my card" and have a "secure transaction", than to "type" in ALL my card data...AND be subjected to fraud"...then you've "secured" the correct answer!
Convenience AND Security...that's the HomeATM difference!
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Are you claiming that 3DES is military grade encryption? 3DES was replaced by AES years ago. I am not saying that 3DES is not secure enough for your application, its just that it is not military grade.
Excellent Point. However, it's not 3DES "alone" that makes it military grade encryption. It's 3DES "combined" with the fact that we also encrypt (from beginning to end) the Track 2 data AND utilize DUKPT key management.
Thanks for commenting!
JBF