Problem Characteristics

Currently credit cards and credit card information can be stolen and or used by unauthorized persons
The current methods by which credit card transactions are verified online provide little protection against internet fraud
Point of sales purchases involving credit cards are subject to security flaws that allow for fraud in various ways
Many times, on site credit card purchases rely on the judgment and consistency of the cashier for validating authorized credit card usage
Some means by which credit card companies have tried to prevent fraud consist of passwords and pin numbers that the card holder is required to remember and can be forgotten
Methods and technology currently implemented to protect against credit card fraud are not easily expandable
The incurred cost of technologies that prevent against fraud can be expensive to the credit card companies, their card holders or both
Many of the imposed technologies that are in place to prevent credit card fraud lack ease of use.