Hacker News new | ask | show | jobs
by icebraining 2889 days ago
No, there's no reason. CAP has been around for over a decade, and my bank has supported that and/or SMS as 2nd factor since at least 2008.

https://en.wikipedia.org/wiki/Chip_Authentication_Program

2 comments

American Express provided something similar to this with the first iteration of the Amex Blue card, though the implementation details were probably different since that was back in the early 2000s. They gave each cardholder a card reader that plugged into your PC, along with other handy stuff like software that could generate one-time use card numbers linked to your account. It was all pretty whizzy, though Amex dropped it like a hot rock when it failed to get much traction.
How does CAP provide protection when logging into your bank account online?
You get a device (like those in the pictures), which you then connect to your computer, and insert your debit card. When you do an online operation (e.g. bank transfer), the bank site requires the transaction to be digitally signed by your card (and which requires your PIN).
Ah OK I didn't look closely enough as I thought the picture were of POS terminal devices. I was confusing CAP with "chip and pin" - the tech used inside debit cards.
It is chip and pin :) it's the same cards, just not a POS device.
That's sick, and also what I want out of the open crypto networks.