Comment Should retailers store credit card details? (Score 1) 101
Beyond transactions, I wonder whether retailers should even be storing credit card information? Surely debating this problem to the credit card companies would be better? The only thing combines should be keep is maybe some sort of public key value for the credit card, which can only be unlocked with a user provide value. The private key would be in the hands of the credit card company to access your account.
I am thinking on the fly here, but the main gist is the less credit card details stored by non-credit card companies the better. These retailers could secure their systems better, but maybe they shouldn't be holding on to certain critical information either? We need to review what financial data is held in light of these issues.
In Europe you have a one time key for your online payments, that requires a special calculator looking device. Probably not the best solution, but not a terrible one either - it's just inconvenient and not necessarily clear to the non-tech savie.