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 card doesn’t tell the reader if it has money or not, that’s why the terminal still needs to contact the banking network for that. The process involving the chip is to authenticate the identity of the card, not to validate funds availability.
Anyone who accepts cards in an “offline” (saving transactions to process later) situation takes the risk of a invalid/Expired card being used, but the same applies for magnetic stripe transactions as well.
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