Just received a new VISA card equipped with the 'touch reader' technology. Says we only wave the card over the reader for payment. That seems a bit dangerous to me - if the reader can read the wave...
What can be encrypted, can be decrypted if one wants to go to the effort and the effort has a big enough payoff.
While this is a true statement, what is missing is that with the system used today it would takes months or years or even decades or longer on a high speed computer to decrypt the token. By then it is of no value since it has already been used once.
Now skimming the magnetic strip, that's much easier, but more and more cards have no magnetic strip.
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