New innovation in credit cards for 2024

[webfact]

 

The state-run Krungthai Bank has launched a new translucent, numberless credit card without a magnetic stripe, visible CVV number or expiration date.

 

An executive of the bank offered an assurance that the new credit card is safe and helps to solve the problem of credit card fraud.

 

To use the new credit card, he explained that card holders will have to use their cards in combination with the associated mobile application and will be required to enter the CVV code. Each CVV code is only valid for 24 hours and the card holder will have to ask for CVV codes from their credit card issuer.

 

Full story: Thai PBS 2024-01-05

 

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[eyeman]

The technology of non-visible details and removal of magentic stripe isn't new. Apple card and dozens of others have done things like this for years..  Seems in typical Thai fashion though they've added extra steps to make the process more painful.

 

What is ultimately worrying is the impact on the lines at Tesco, Villa, BigC, and Tops, it's bad enough when they spend 2 minutes fishing for their purse, if they have to do in in-conjunction with several app steps this will not be progress..

 

 

[foreverlomsak]

3 minutes ago, eyeman said:

if they have to do in in-conjunction with several app steps this will not be progress..

Keeps you in the shop longer and you might just see something extra to buy, must admit I agree with the potential impacts on the queues it was bad enough when they started accepting cards, then apps, now it's cards and apps.

Gimme cash only tills please, I'm quite happy with paper money, while speaking about money let's get rid of the FN stupid 25 & 50 Satang coins, nobody likes them, even Thais throw them away.

[Tropicalevo]

Great. Being forced to use yet another app on the phone that will steal all of your data, record what the phone hears etc etc.

Phones can be cloned, lost or stolen. Hacking them is simple to the professionals (ask Prince Harry).

I get away from the till quicker than people using cards, apps or any other weird payment method.

Cash is almost instant. All the girl has to do is count the money.

PS I have a very 'appy phone. Zero third party apps. Just the manufacturer's ones that I cannot delete and never use.

[NoDisplayName]

52 minutes ago, webfact said:

card holders will have to use their cards in combination with the associated mobile application and will be required to enter the CVV code

 

Sure.  This will go well.

 

As if it's not already frustrating enough to wait (im)patiently behind some fool that waits until his cartful of groceries to be rung up before digging through his manbag for his cellphone, then locates the correct app, then has to open and log on, then has to dig through scraps of paper to find his password......

 

Hub of waiting in line behind idiots.

[hotchilli]

Should help the vision impaired enormously...

[Bangkok Barry]

5 hours ago, eyeman said:

The technology of non-visible details and removal of magentic stripe isn't new. Apple card and dozens of others have done things like this for years..  Seems in typical Thai fashion though they've added extra steps to make the process more painful.

 

What is ultimately worrying is the impact on the lines at Tesco, Villa, BigC, and Tops, it's bad enough when they spend 2 minutes fishing for their purse, if they have to do in in-conjunction with several app steps this will not be progress..

 

 

 

It's progress for the banks, not us, as they won't have to compensate for fraudulent transactions. In the new world, things take 10 times longer than they used to and they call it progress. I call it regression. I still use cash for regular transactions. Works every time, it's quick, you don't need an app or phone or internet connection which might go down and there is zero chance of fraud. But you know, progress says ..... 

[StayinThailand2much]

Meh! 

[BritScot]

This is backwards and not forward. In the uk every on-line/transaction can be like using a new card. You can select a virtual card and job done. The details keep changing. 

[KhunBENQ]

7 hours ago, eyeman said:

if they have to do in in-conjunction with several app steps this will not be progress..

Not much worse then now.

Who fishes for the purse?

They fish for their mobile, search for the bank app, search for the QR code scan and then... hopefully it will work.

Payment always comes as a surprise.

(sorry for repeating the boring reality)

 

Extra steps...

It becomes more and more a PITA to use online transactions.

Just think about the introduction of face scan. Brilliant.
Not only here. 2FA hunts you. But that leads too far.

[isaanistical]

7 hours ago, NoDisplayName said:

Hub of waiting in line behind idiots.

Well, not Thai-bashing, but how many times have you stood at an ATM behind a local who is reading the card PIN from a piece of paper - or the phone - in order to transact? They will not remember a CVV any more than any other number.

[Liverpool Lou]

29 minutes ago, isaanistical said:

Well, not Thai-bashing, but how many times have you stood at an ATM behind a local who is reading the card PIN from a piece of paper - or the phone - in order to transact?

Never.    How may times have you seen that?   

What are you doing standing so close that you can read what's on the piece of paper or phone of the person ahead of you, anyway?

[Caldera]

9 hours ago, webfact said:

To use the new credit card, he explained that card holders will have to use their cards in combination with the associated mobile application and will be required to enter the CVV code. Each CVV code is only valid for 24 hours and the card holder will have to ask for CVV codes from their credit card issuer.

 

This "innovation" sounds like a clumsy and cumbersome experience. No thanks. 

[The Theory]

Was it really needed to be a "clear" card 🤔😵‍💫

[Tropicalevo]

21 minutes ago, The Theory said:

Was it really needed to be a "clear" card 🤔😵‍💫

Sales gimmick and it forces customers to load the app onto their phone where the bank can harvest information.

Knowledge is power.

As an aside -

https://www.telegraph.co.uk/money/banking/dont-pay-qr-codes-scam-banks-tell-customers/

[Cult of the Sun]

Don't use 'cell' phones & I never will; but they desperately want to convert the few of us that have seen through their nonsense & not bought into the tracking device deception.  I met a guy recently in his 70's working at a supermarket. He said 'they' forced me to get a smart phone. I asked who they was & he said his family.

 

He also added that his employer now requires a smart phone to get their schedule & clock in. I am planning on calling the company about this today. If this is indeed true, i will inform them I will no longer be shopping in their stores. 

 

I called them just now; and they said that is not true.  They said 99% don't even use the available app for schedules & clocking in. So is this old guy that clueless or just trying to justify the 'upgrade' to smart phone. I think it's the latter.

[SAFETY FIRST]

16 hours ago, webfact said:

without a magnetic stripe, visible CVV number or expiration date.

When buying online I often need to add a CVV number, if it's not visible I'm not buying that item. 

 

Just another secret number to store somewhere secret. 

 

[nobodysfriend]

20 hours ago, webfact said:

To use the new credit card, he explained that card holders will have to use their cards in combination with the associated mobile application and will be required to enter the CVV code. Each CVV code is only valid for 24 hours and the card holder will have to ask for CVV codes from their credit card issuer.

 

That is making life even more difficult .

Just leave it as it is .

[foreverlomsak]

6 hours ago, SAFETY FIRST said:

Just another secret number to store somewhere secret. 

like password protecting your password, and then storing it on the cloud

[foreverlomsak]

2 hours ago, nobodysfriend said:

 

That is making life even more difficult .

Just leave it as it is .

The bankers have got to justify their existence, and the need to grow their industry, as well as the amount of fees they charge us to allow them to use our money, which we have entrusted to their safe keeping.

Then when you ask for some back it's "Why do you want to withdraw our money".

[retarius]

Every time I stand in line at Tesco at the check out, I wonder at technology that is supposed to make life easier for customers and more efficient for businesses and I not that I am standing there for 20 minutes instead of 2 minutes, while some idiot tries to play for his goods with a telephone. I rage inside at the stupidity of it all. How did we all fall for this con trick....spend $1000 on a phone to find it doesn't make your life easier at all, or other people's....it simply adds to the frustration of life. Am I a fan of Ned Ludd? You betcha.  

I just had to spend time editing this short comment because the stupid app that checks spellings put 'staining' instead of 'standing', and it doesn't get red underlined as incorrect spelling, because the app put the wrong word in. Again useless technology....I can quite easily check my own spelling, but cannot check for red lines where they don't exist. 

[gargamon]

13 hours ago, Tropicalevo said:

Knowledge is power.

As an aside -

https://www.telegraph.co.uk/money/banking/dont-pay-qr-codes-scam-banks-tell-customers/

Your link does not refer to reading QR codes from a banking app. It states that scanning a QR code with your phone can lead to fake sites that can entice the non-knowledgeable to give up money. Nothing to do with banking apps.

 

So I guess you're not very powerful then. 

[Tropicalevo]

10 minutes ago, gargamon said:

Your link does not refer to reading QR codes from a banking app. It states that scanning a QR code with your phone can lead to fake sites that can entice the non-knowledgeable to give up money. Nothing to do with banking apps.

 

So I guess you're not very powerful then. 

So banking apps never use QR codes? How do do the people pay then?

I was under the impression that people use their banking apps to pay bills, via QR codes. I admit, I have zero apps on my phone from outside sources.

I do not live in the UK and I do not have a car, but I would have thought that the people scanning the code are using a banking app to pay for the charge. The money is going to a fake account.

It is not just the parking QR codes that are a risk. This is happening on many phone scams where they send you to a link. The scammers are pretty clever.

Using any QR codes carries a risk.

 

[KhunLA]

Think they've been watching too many sci-fi movies 

[gargamon]

2 hours ago, Tropicalevo said:

So banking apps never use QR codes? How do do the people pay then?

I was under the impression that people use their banking apps to pay bills, via QR codes. I admit, I have zero apps on my phone from outside sources.

I do not live in the UK and I do not have a car, but I would have thought that the people scanning the code are using a banking app to pay for the charge. The money is going to a fake account.

It is not just the parking QR codes that are a risk. This is happening on many phone scams where they send you to a link. The scammers are pretty clever.

Using any QR codes carries a risk.

 

Yes, banking apps use QR codes. But they're not the same as the ones referred to in the article you linked. 

 

I'm only in the west a couple of months each year. I have not seen QR codes used there yet for banking. If they are using them it must be pretty new.

 

What QR codes are used for in the west is to make it so the dumb user doesn't have to type the URL in. Scan the code and it will be recognized by your device as the URL for your church, school, etc, for example ChurchofStAlphonso.com. The scammers put a fake QR code which translates to FakeChurchofStAlphonso.com which looks exactly like the legitimate site. The fake site will of course accept your credit card info and steal your poney. This is the scenario in the article you linked.

 

I'm curious now. I'm going to need to take a pic of the QR code for a cardless withdrawal and decode it to see what's in there exactly.