'SafePay': First anti-fraud system to use existing credit card readers
Monday, September 21, 2015 - 10:00
in Mathematics & Economics
For the first time, researchers have developed an inexpensive, secure method to prevent mass credit card fraud using existing magnetic card readers. The novel technique -- called SafePay -- works by transforming disposable credit card information to electrical current and driving a magnetic card chip to simulate the behavior of a physical magnetic card.