Can someone explain to me how a really smart hacker hasn’t figured out a way to design a chip for a card like a prepaid visa that tells the machine reading it that it always has money on it? Sorry if this sounds silly but the chip cards have information on them can that information not be hacked or edited? Or can they not have a machine like the bank uses to program your card but program it to be unlimited?
Thanks.
In: 6
The chip on the card doesn’t have the amount of money the person has, it has the bank account information and a set of personal encryption keys. The terminal queries the card’s ship for the bank account information, connects to the bank’s servers, runs an authentication check with the card’s personal encryption keys to confirm that the card itself is legit, and then sends the bank the charge info. The chip on the card has no idea what your account contains.
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