Cards, Caps and Rising Gas Prices
Bruce Schneier comments on an article about how rising gas prices and the caps on card transactions authorized at the pump can cause pumps to shut off mid-fill.
The caps are a protective layer imposed by the card companies to limit fraudulent transactions. These caps went pretty much unnoticed when gas was less expensive. What you will like about Bruce’s commentary is his compelling argument questioning the actual security purpose of such a ceiling.
By the way, Bruce’s blog is a great one to follow if you are into security and security technology. While not specifically about payments or banking, as you can imagine the topics of payments and security intersect all the time. I read Bruce’s book Applied Cryptography about 7 years ago. If you ever want an extremely comprehensive source on implementing cryptography using technology, this is it. I also read Secrets and Lies after I starting following his blog, an enjoyable read which gets you thinking. Bruce is a smart guy.
