Charge, charge, charge!

Do you still remember the time when you made credit card payments buying some item from a department store, and the cashier would take out this huge contraption wherein they will put your card, some-kind of carbonated receipt and run through a little device that would capture the embossed card number and your name? We called this "plantsa". Back in those days, to check if yours is a "hot" card - reported stolen or missing by the cardholder - the cashier will bring out a list and check the numbers. The cashier would then call the card issuer (bank) to get authorization for the transaction and jot down the authorization number in the receipt. Gone are those days.

Counters now have this little device connected to a network through a leased line; the card's magnetic strip will be swiped in this device's reader and the stored info such as the card number, expiry date and cardholder's name. The info from this little black strip would then be sent over to the network and routed to the card issuer for authorization. The card issuer would then send a response whether to approve the transaction or reject it; all of these is done in a matter of seconds. After approval and printing of the receipt through the thermal printer, the cardholder would just need to sign it. If the cashier is so diligent, she would check the signature against what's on the back of the card, but then again they are no signature experts.

With the fast evolution of technology, credit cards payments are again changing. We now have this so called "Pay by Touch". With this new technology, your fingerprint acts as a means of biometric authentication when you make purchases, so you no longer need to swipe your card. All you need to do is place you finger on a sensor at the point of payment, and the electronic wallet that stores your personal information and credit card details will retrieved and evaluated. Of course, you need to enrol for biometric payment to enjoy this new convenience as your bank doesn't ask for fingerprints when you applied for a card. This facility is quite secured - even better than just comparing signatures - as your fingerprint is unique, which meant only you can access your credit card. Unless, of course, somebody cuts off your finger and uses it to make purchases. That is such a disturbing sight!

Aside from the "Pay by Touch," VISA introduced the payWave facility. No signature, no swipe, no fingers to put into a device, all you need to do is wave your card on the new reader and your good to go. This isn't the safest facility as the person standing next to you on the payment queue could just grabbed your arm carrying your wallet and wave it on the reader to pay for his purchases.

With so many fraudulent transactions done everyday with the use of credit cards, I guess the best thing to impede such scams is with the use of "Pay by Touch". Because aside from your fingerprint you also need to key-in a personal search number, which is also unique. So if somebody really did cut off your right finger, he still couldn't continue with the transaction if he doesn't know your personal search number. What happens if you no longer have your right index finger? There's still your left to use. But if you lost all your digits, I'm not sure if you could use your toes.