On Mon, 2 Feb 2015, John Clear wrote:
On Mon, Feb 02, 2015 at 04:15:50PM -0500, berg...@merctech.com wrote:
-100 to AMEX for online/phone purchase fraud prevention.
Many years ago, AMEX used to offer (free!) virtual credit card numbers
called Private Payments. These were good for one-time use, with a
capped-maximum and 30-day validity. The "card" could be generated
on-demand after logging into the AMEX site. This was a terrific way to
handle on-line purchases. Then they dropped the service.
MBNA (and probably other card issuers) also had on-demand 'card'
numbers, but they dropped that service before being borged by BofA.
Once online transactions became frequent enough, the issuers likely
had enough data to do fraud analysis without needing to have the
customers hassle with on-demand card numbers to limit their exposure.
I also wonder if they started getting worried about number exhaustion. I'm sure
that when they started that they thought that 10 or so digits was enough to last
forever, but unless they re-use numbers (at which point they now have much more
interesting recordkeeping about who had what card number when), a different
number for each purchase by a large number of people will run through numbers
rather quickly.
David Lang
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