A one-time-use credit card number is provided by various credit card issuers as an additional layer of security for electronic payments. When a customer connects to the credit-card company's Web site, they will get a one-time-use number. Make a case for the benefits of using a system like this in compared to the usage of normal credit card numbers. Discuss its pros and downsides in compared to other electronic payment systems that need authentication, as well as other payment methods.

A one-time-use credit card number is provided by various credit card issuers as an additional layer of security for electronic payments. When a customer connects to the credit-card company's Web site, they will get a one-time-use number. Make a case for the benefits of using a system like this in compared to the usage of normal credit card numbers. Discuss its pros and downsides in compared to other electronic payment systems that need authentication, as well as other payment methods.

Management Of Information Security

6th Edition

ISBN:9781337405713

Author:WHITMAN, Michael.

Publisher:WHITMAN, Michael.

Chapter12: Protection Mechanisms

Section: Chapter Questions

Problem 1RQ

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Some credit card issuers provide a one-time-use credit card number as a more secure method of payment when it comes to internet transactions. Customers may receive a one-time use number by going online to the credit card company's website. Describe the benefits of utilizing this method over one that just uses a credit card number in place of it. Additionally, discuss its benefits and drawbacks in comparison to electronic payment systems that need authentication.
One-time-use credit card numbers are offered by certain credit card providers as an extra layer of security for electronic payments. To get the one-time-use number, customers must visit the Web site of their credit card issuer. Describe the advantages of this technology over the traditional method of utilizing credit card numbers. Comparing it to electronic payment gateway authentication, what are the advantages and disadvantages?
Certain credit card issuers provide one-time-use credit card numbers for electronic payments as a convenience. For a one-time-use number, users must visit their credit card issuer's website. Describe the advantages of adopting this technology over traditional online credit card transactions. How does it compare to electronic payment gateway authentication in terms of pros and cons?
Credit card companies may provide temporary credit card numbers for one-time usage in online purchases. Users need to go to their credit card company's website to get a temporary number. Explain why this technique is preferable to the standard method of making online credit card payments. What are the benefits and drawbacks of using this method over using an electronic payment gateway authentication?
Certain credit card companies issue one-time-use credit card numbers as an added degree of security for electronic payments. Customers must go to their credit card issuer's website to obtain the one-time-use number. Explain how this technology differs from the old approach of using credit card numbers. What are the benefits and drawbacks when compared to electronic payment gateway authentication?
Some credit card companies issue one-time-use credit card numbers as an additional level of protection for online transactions. Customers must visit the website of their credit card issuer in order to obtain the one-time-use number. Identify the benefits of this technique over the established approach to using credit card numbers. What are the benefits and drawbacks when compared to electronic payment gateway authentication?
Some credit-card companies offer a one-time-use credit-card number as a more secure method of electronic payment. Customers connect to the credit-card company’s Web site to get the one-time-use number. Explain what benefit such a system offers, as compared to using regular credit-card numbers. Also explain its benefits and drawbacks as compared to electronic payment gateways with authentication.
Debit cards produced by financial institutions often have a personal identification number (PIN) for further safety. For safety purposes, these PINs are normally four digits in length. Data security is ensured during transmission between ATMs and servers processing debit and credit card transaction verification. To safeguard customer information, financial institutions must use cryptography and other ad hoc management strategies. Explain why you think this course of action is appropriate, if you can.
Debit cards provided by banking organizations are protected by personal identifying numbers (PINs). These PINs often include four digits due to security concerns. Information supplied from ATMs to the computers that verify credit and debit card transactions is encrypted before transmission. Ad hoc management strategies and encryption are necessities for banks to protect customer information. Please elaborate on the reasoning behind this request.
One-time-use credit card numbers are issued by certain credit card providers as an extra layer of protection for online transactions. Customers must visit the website of the company that issued their credit card to get the one-time-use number. Describe the differences between this technology and the traditional method of utilizing credit card numbers. What advantages and disadvantages do they have in comparison to electronic payment gateway authentication?
Bank-issued debit cards also come with a special identification number for further security (PINs). These PINs are typically four digits long for security reasons. Transaction verification for debit and credit cards is handled by servers, and data exchanged between ATMs and those servers is secured. Banks must use encryption and other ad hoc management approaches to protect client data. If at all possible, please defend this course of action.
Bank-issued debit cards also come with a special security code for your peace of mind. (PINs). These personal identification numbers (PINs) typically consist of four digits. There is an encrypted connection between ATMs and the servers that check debit and credit card transactions. Encryption and ad hoc management solutions are necessary for banks to safeguard their customers' personal information. Please provide further detail on the justification for taking this step.