PIN to the rescue

There are no quick fixes and apparently it’s hard to create a new habit. But some things just need to change. Embracing 2-factor authentication is one of those. And regarding money better safe than sorry.

Spending more time in US made me think about usage and handling with payment cards. Having unpleasant feelings when you give the waiter your bank card and he takes it away. Coming from Europe I was taught to never let an eye off your bank card. The first time it happened my reaction was: Wait! What? Where are you taking my card? He looked at me like I’m the crazy one. Adding a surprise — nobody ever asked me for my ID.

Large amount of frauds made European banks cautious about it. And calls from your bank spending money in US were first surprising, but still doesn’t feel like normal behaviour. Shopping clothes online, attempt to pay — BOOM! call from your bank. After answering the questions the card will be unblocked in a day. Bye, bye sweet plans you were making for that day. Even when paying Dribbble membership I got a call every time.

This is why I was happy about the news that US merchants have until this October to convert their payment terminals to those capable of EMV (or chip) transactions. Heard some complaints about ugliness of those already.

Then I accidentally saw Wells Fargo mobile banking login. With username and password only. USERNAME AND PASSWORD! And this one just grabbed my attention to the subject.

And this is the list of banks and the security they provide (source: https://twofactorauth.org). TERRIFYING! You guys need help.

Luckily the new more disruptive payments providers find it natural and almost all Cryptocurrencies have it.

Dear banks! Start implementing 2-factor authentication. Users will get used to this new habit and eventually start to appreciate it. Especially when hearing another news about password leakage knowing he’s not in danger.