The start of the end for PayPal?

[gnm109]

Just for the record. You're all nuts. I'm stealing your personal information right now as you use your keyboard (I'm watching!!) to type your response to this thread. In fact, I don't really exist. I am an AI program trolling for you to keep using your keyboard so I can extract your personal DNA through your fingertips. The way your vibrations from typing interact with my sophisticated AI interface, I now have an imprint of your fingerprints and am using THAT to couple with your personal, interpersonal, and financial life!!@

Great! Then you probably already know why I left Chicago at the very first opportunity. I was telling a friend about it on the internet only last night.

[lazlo]

"The start of the end for PayPal? "

Don't think so.

Paypal's not going away, because Ebay bought them and then made it their preferred payment system.

Outside of Fleabay transactions, have you ever paid or received money through PayPal?

I buy knifemaking supplies, and occasionally a custom knife, through Bladeforums, and almost all the transactions are through PayPal. Amusing, because PayPal will cancel a transaction if "Knife" is in the description for some reasons. Likewise for the PracticalMachinist and CNCZone For Sale forums: most of the transactions are done with PayPal. I gather that's true on most of the specialty forums.

[lazlo]

Because the magnetic swipe authentication is so weak its been dropped in Europe. So cards and card information are stolen in europe and in the rest world and then shipped to the U.S. where duplicate cards are created and used to extract the money.

???

The magnetic stripe essentially has the credit card account number -- if you physically have the card (i.e., you stole it), you already know that. There's no authentication information on the stripe, which is why you have to enter that manually (the Pin code and often, your zip code).

[Rosco-P]

???

The magnetic stripe essentially has the credit card account number -- if you physically have the card (i.e., you stole it), you already know that. There's no authentication information on the stripe, which is why you have to enter that manually (the Pin code and often, your zip code).

Correct and the pin code, called the CVV2, while printed on the back of the actual card is not stored with the transaction. It is only to be carried along with the original data stream and used for verification. Not ever to be stored as part of transaction history.