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By ankurgupta84
Lets introduce a paging device to empower the user of the card, the device which will be two way communication enabled (similar to a pager) small-size (that of a key chain) will establish a direct link between the customer and the bank from which the money is drawn. Whenever a transaction is attempted the bank sends the page to the device describing the transaction briefly eliciting a response from the user. On positive identification of the transaction (the user selects yes) and sends the signal back to the bank, the bank then continues the transaction, money being credited. In event of an unidentified transaction, the user simply says no and declines it. The bank cancels the merchants request and further takes action to seize the culprit who initiated the fraudulent transaction. Advantages of the above approach
1. the security is divided into two levels viz. card-level (cvv,cvv2) and the comm. device level (2 way communication btw bank and customer)
2. The card user is empowered and hence gathers faith.
3. Misuses reduced to zero.
4. In event of losing the card, the user is rest assured that the card is immune to fraud attacks.
5. Undue wastage of time, money and precious resources in legal hassles (both at the bank side and the side of creditcard user) are eliminated.
6. Potential Savings : Approx 80 million $ (global figure calculated annually) money scam via creditcard

Reward: a safe Credit Card transaction everytime
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