Wednesday, December 13, 2017

A simple fix to make a cash card from an ATM card

The new cards with the chip make fine intelligent cash cards, it they can be programmed at the point of sale. 

The amount of money each card holds is an encrypted value, and only the point of sale terminals know the secret key.  So, making a counterfeit proof, cash card is equivalent to securing the POS terminals, protecting their secret keys.  When POS makes change, it just reprograms the ATM chip using honest accounting.

Don;t even need a patent, this stuff is already done using the SIM chips.

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