Subject Re: The Most Important Attribute
From "Cantor, Scott E." <cantor.2@xxxxxxx>
Date Wed, 6 Jul 2011 15:03:34 +0000

On 7/6/11 7:33 AM, "Chad La Joie" <lajoie@xxxxxxxxx> wrote:

>That all sounds fine with the exception that that's not how credit card
>processing is done.

And since it's a pet point of mine, I'll note that all of this works
because liability is squarely on the card issuers and banks, with the cost
of that passed along to consumers in all the stuff we buy.

Most people understand the risks of using debit cards without that
liability protection online and don't do it. Take the liability transfer
away, and all of it grinds to a halt until all the hard security problems
magically get solved. Thus, there's no incentive today to solve them and
they aren't.

Credit cards are a great example of federation behind the scenes, but you
couldn't pick a worse example for talking about end user security.

-- Scott