How to Make Credit Card Purchases Safer – Banks, Are You Paying Attention

Do you worry about the security of your credit card information when you provide it to lesser known merchants to make payments ? Do you worry that the information you provide to well known major merchants could be stolen as their databases are hacked as seems to happen regularly ? Do you wonder why merchants need to have access your credit card information ?

What if when you went to pay for goods online, or using merchant point of sale terminals, you were diverted to your bank’s credit card site where you could make payment using a secure transaction and have the bank send confirmation to the merchant that payment was made, without having to provide any personal financial information to the merchant. For recurring payments like monthly service fees the bank could provide an ongoing confirmation that expires on a date set by the purchaser. Would that make you feel more comfortable and more secure ?

I refuse to believe that in this day and age the technology to do this does not exist and I refuse to believe that nobody has thought of this before. I can only wonder who profits from retaining the current unsafe and insecure system for making credit card purchases.

Banks and credit card companies, are you paying attention ?