Wednesday, July 8, 2009

PIN Debit for Internet Transactions

Noise about this approach is floating around once again. Seems every 18-24 months or so, I guess that is how long it takes folks to forget why the last attempt failed, "news" about this concept surfaces. Speaking of "floating", one of the schemes uses a floating soft PIN Pad as its magic. I watched a YouTube video that showed a demo, supposedly real but clearly a demo since the merchant referenced is not live with the solution, of one of these transactions. My vision is still blurry from following the keypad doing its multiple scrambles after each entry.
What are these people thinking?
p.s. This technology was resurrected out of the ashes of a now bankrupt fingerprint-at-the-POS based payments company. That company blew threw around $100 million dollars of investor's money.