Archived from groups: alt.sys.pc-clone.dell (
More info?)
<William P. N. Smith> wrote in message
news:aumqi198a0r87b2i5htj3473onhbnvse9b@4ax.com...
> "Thomas G. Marshall"
> <tgm2tothe10thpower@replacetextwithnumber.hotmail.com> wrote:
>
> >Doesn't /anyone/ know where I can find a credit card company that
> >emails me the minute something is charged to my account?
>
> You don't understand how credit card processing works, or how
> antiquated their infrastructure is. "High-speed" modems to them mean
> 1200 baud, they still run nightly batch jobs to run the charges, and
> they've got so much invested in The Way Things Are that change is
> _very_ slow.
>
> For instance, until recently, "online" transactions meant "Drop a file
> into a directory, I'll notice it, read it, dial a 1200 baud modem into
> a mainframe, get your results, and write a file into that same
> directory."
Part of this has to do with the actual signal processing. They prefer
it clean, simple, and uncompressed. The less that is done to the signal the
less chance there is for error and compromise. There is also the issue of a
world wide network with equipment from just about every generation from the
original keypad only (no swipe) terminals to wireless multipurpose readers.
Many use batch file processing to cut down on over head and to allow for
multiple transactions in a single session during a low volume time period
for both the processor and the CC clearing house. Usually the choice is a
matter of cost and bulk. Companies that provide services with scheduled
billings to CCs use batch billing at a lower cost to them from the CC
company. Cost that get passed down to the customer. All CC companies (and
they are really the guys doing all the debit cards as well) us a mixture of
billing systems, batch, transaction, etc.
Most banks and such actually have this done by third party companies.
Most simple act as a pass-through, however a few have been found to store
data (AKA the clearing house in AZ that recently got hacked for thousands of
VISA card customers info. Despite their contract with VISA the explicitly
prohibits it from retaining any customer data.)
Some companies do a per customer transaction billing and some do
batches. Additionally some do a check billing to verify the card is good
but then batch bill for the actual amount. Non-pin debit card transactions
are often done this way. Additionally some companies have their independent
franchises batch bill them and then the company batch bills the CC
companies. This can add two to three days to the actual transaction from
delivery of goods/services to actual billing of the customers CC account.
Though with some CC & debit cards there can appear a pending charge for the
actual amount. Not sure how that works though.
Fraud alerts may be a nuisance at times, but the alternative is worse.
Said fraud alert features also allow CC companies to make their much touted
no loss claims that if a customers care is lost/stolen and fraudulent
charges are made, the customer will not be held liable. The TV commercials
on identity theft are amusing, but each of them can be backed up by actual
fraud cases. It's always funny as long as it isn't happening to you.
Push may come one day, but there are still issues. Hardware, software
and transmission cost to name a few. Then there is the security issue for
the transmission and storage of any information pushed to a customer. With
the current state of hacking on most portable devices, not to mention the
potential for simple hardware theft, I personally would rather not have any
such information pushed to my cell/pda/blackberry/handheld. They can secure
it on their servers and I can wait to access it via a more secure means when
I get home.
I'm not paranoid.
Just an enlightened target.
KC
Facebook
Twitter
Instagram