Claim is that the draft X9.59 financial industry standard (for all retail
payments) could provide the level of integrity that would justify better than
card/consumer present rates; i.e. the level of the integrity of the transaction
is at least card present ... and the characteristic of X9.59 makes the account
number pretty much worthless in non-signed transactions (i.e. even if every
account number from X9.59 transactions were kept at a merchant server database
... and that database was compromised, the information could not be used for
fraudulant transactions).
One of the charters to the X9A10 working group for X9.59 was to preserve the
integrity of the financial infrastructure with only a digital signature and be
applicable to all retail based payments. The X9.59 mapping to existing payment
card infrastructures, while relying on digital signatures does not rely on
certificates and/or associated PKI/CA infrastructures.
For more information see various references at:
http://www.garlic.com/~lynn/
Randy Witlicki <[EMAIL PROTECTED]> on 01/11/2000 04:15:07 PM
Please respond to Randy Witlicki <[EMAIL PROTECTED]>
To: Peter Cassidy <[EMAIL PROTECTED]>, [EMAIL PROTECTED],
[EMAIL PROTECTED], [EMAIL PROTECTED]
cc: (bcc: Lynn Wheeler/CA/FDMS/FDC)
Subject: Re: Killer PKI Applications
The killer app should make somebody very rich.
Perhaps where the consumer can make an online purchase,
same as now with an SSL browser link, but they are using
a credit card from "Hettinga National Bank" where the consumer
gets a 1/2 percent rebate and the merchant gets charged 1/2 percent
less than other credit cards (to encourage the merchant to
recommend Hettinga National Bank to their customers).
This would likely require disintermediation of of various
finanacial processing links, maybe PKI, and perhaps even Digital
Bearer Certificates.
In this case, PKI is probably a Business-to-Business backend tool.
Or have I been mis-reading Bob's cogitating and rants ?
- Randy
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