Marcus Jenkins

I just read that credit cards are due to go 'numberless' by 2030. The familiar 16-digit number is going away to be replaced by a 'random number' that is created each time you want to pay for something.

I like the extra #security - no credit card number to steal - but what about convenience? Do I need to authorise every monthly subscription payment, every Amazon purchase and every PayPal transaction (in addition to the 2FA I already have on PayPal)? 🤷🏼‍♂️

#creditcards #paymentsystem

Apr 21, 2025 at 3:51pmMastodon for Android
Show threadStephen Dioxide Apr 21, 2025
@marcusjenkins I don't get it. How does a random number connect the vendor with your info?
Show threadMarcus JenkinsApr 21, 2025
@Steve I believe that every time you want to start doing business with a new online seller your banking app makes up a new 'magic number' which is unique to the combination of you and the merchant. So perhaps this magic number is good for more than one transaction between you and that particular merchant. 🤷🏼‍♂️
Show threadGaelan SteeleApr 21, 2025
@Steve @marcusjenkins the chips in modern credit/debit cards are computers - so the “random number” is presumably generated either cryptographically, or in coordination with your bank (via messages relayed by the terminal). Not at all clear on the precise details, though