|
|
Article: Smart card proponents say security measures are up to snuff.
- Article from:
- American Banker
- Article date:
- December 30, 1994
- Author:
CopyrightCOPYRIGHT 1994 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Joe Schuler is tired of hearing people cast aspersions on the security of smart cards.
Mr. Schuler, a Minneapolis-based consultant and longtime enthusiast of computer chips as a way to improve plastic payment cards, is offering $1,000 to anyone who compromises their security.
"I'm saying, let those who have been talking about it step forward," Mr. Schuler said. "It's time for them to put up or shut up."
If Mr. Schuler has to pay up, or if anyone otherwise proves that the integrated circuits in the new breed of plastic cards can be readily compromised, then MasterCard, Visa, and the rest of the payment system establishment will have to scramble for the next "sure ...