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| Michael Smith |
A MORE advanced data authentication system is being pushed by Visa Inc. among banks in order to deter credit card fraud.
“To prevent fraud in card transactions from happening, issuers must shift from static data authentication (SDA) to the dynamic data authentication (DDA),” Michael E. Smith, Visa’s head for risk management for Asia Pacific, Central Europe, Middle East and Africa, told reporters in a briefing earlier this week.
SDA is a type of data authentication in which a terminal validates a password placed on the card at the time it was issued to the cardholder, while DDA is a type of data authentication in which the card uses public key technology to generate a password...read more»
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