Fax Signed Electronically Credit Card Number with airSlate SignNow

Fax signed electronically credit card number

time now for today's big deal as you can see I'm sitting here with our T correspondent Manuel Rob Lowe who's been my partner in crime this week we're gonna continue the discussion on credit card security from a little bit of a different vantage point now every day it seems like we're hearing about a different company being hacked whether it be Home Depot target you name it everyone's been impacted at this point and many analysts say an electronic chip in the credit card would just be the best solution a lot of companies are finally starting to roll out these new credit cards to their customers I know Manny here just got his recently I'm getting mine in the mail as well so Manny I wanted to start right there I mean what do we really know about what these electronic chips can offer I mean do we know that they necessarily add that that layer of security that analysts say they will right well for consumers I guess it all depends on what what card they're carrying and you mention how and I'll put up just to give you guys an idea of what these guys I'm gonna hide the number in case you sneaky people out there it looks a little bit like that that's the little chip it's shiny most most viewers are probably well aware that that these new cards are out there it's shiny it's pretty kind of looks like a cell phone SIM card which is why some people think that maybe it can be tracked there's that conspiracy out there we will talk about it we'll get to that of course but but does it make the card more secure I guess the answer there is is sort of because it's it adds another layer of encryption to to your security that you already have right but the one thing that we need to keep in mind is that the United States is host to half of reported credit card fraud in the world its hat and whether like you mentioned before whether it be a Best Buy Target was was was a was hit badly I know from personal accounts you from from Target but we're we're still a long way from having full security with credit cards not because these chips aren't great court the contrary as far as the encryption goes as far as securing your data these chips create a very personalized code for every single transaction that you have but as long as we don't have the card readers here in the United States that don't rely on that magnetic strip as long as that little magnetic strip strip on the back of the card is still there and you're still using that you might as well not have the chip at all because that's what's susceptible and until we move into a system where all card readers rely on the chip and not the magnetic strip American consumers will remain at a higher risk of fraud than consumers in the rest of the country and I think I read a long time ago that that the u.s. actually is the credit card a capital of the world and so that's a scary thought frankly but you alluded to this that the concerns that these these chips can be tracked that they're gonna you know add newer problems for people that start using that I so talk to me a little bit about that I mean they're very similar to the to the chips that are in passports as far as I understand so you know is there a similarity and then and that they can be tracked sure so let's point out the differences these these chips are encrypted they're called env chips they're different than RFID chips like the ones that that you mentioned that are found in passports are RFID chips so the radiofrequency IDs they can be scanned from a few frita from a few feet oh wait they can be scanned from up to 25 feet away so if you're concerned or paranoid rather about privacy if this is if this is a concern that you have you might want to consider investing in an RFID proof wallet a case an aluminum foil lined with maybe duct tape around that lined wallet for yours as far as I've been able to tell right now there's no definitive evidence that suggests that these chips on these credit cards can be tracked that's not to say that that's not that that couldn't possibly be a situation in the future but for now the one thing that we do know is that in terms of them being secure they're secure from being tracked but they're not secure from your information ending up in the hands of research firms that then want to sell that information like Bianca had been mentioning before other companies and then building a personal profile of you digitally online and that's a very important distinction to make Manny rotlo we ran a time thank you so much for being such a team player that he's for having me all this really really appreciate all the great reporting you've done