Plastic money, Plastic Money Fraud and the legal information requirements?

Question

Plastic money is all the rage and we know plastic money fraud is only a step behind (if not ahead). What is the law in Zimbabwe, we seem to be giving retailers too much information, card number, expiry date, name, verification number and signature. Last time I checked, with this information you can make an online purchase using anyone's card?

Answer 1

I questioned that as well when l saw someone making a swip purchase. The information that was collected at till was just too much! The lady answered that it was required but didn't know by who when l challenged to know the law she was using.

Answer 2

The card number, expiry date, name, verification are important and the signature if you are doing a physical purchase but with online purchases the signature is impossible to be executed. Though they are other controls they apply to legitimise the account with the account holder

Comments

I have been using cards to physically purchase something before there was chip and pin. All that was needed was the cashier to compare the signature you just made and one on the card. No taking of details, it your card, your details.

Then chip and pin came. No need for signature or details. Now there is NFc, no need for pin if purchase is below certain amount.

What l see in Zim cards are just being issued then they think security later