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Are Payment Card Contracts Unfair?

Murdoch, SJ; Becker, I; Abu-Salma, R; Anderson, R; Bohm, N; Hutchings, A; Sasse, MA; (2016) Are Payment Card Contracts Unfair? In: Grossklags, J and Preneel, B, (eds.) International Conference on Financial Cryptography and Data Security FC 2016: Financial Cryptography and Data Security. (pp. pp. 600-608). Springer Green open access

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Abstract

Fraud victims are often refused a refund by their bank on the grounds that they failed to comply with their bank’s terms and conditions about PIN safety. We, therefore, conducted a survey of how many PINs people have, and how they manage them. We found that while only a third of PINs are ever changed, almost half of bank customers write at least one PIN down. We also found bank conditions that are too vague to test, or even contradictory on whether PINs could be shared across cards. Yet, some rather hazardous practices are not forbidden at all by many banks: of the 22.9% who re-use PINs across devices, half also use their bank PINs on their mobile phones. We conclude that many bank contracts fail a simple test of reasonableness, and that ‘strong authentication’, as required by PSD II, should include usability testing.

Type: Proceedings paper
Title: Are Payment Card Contracts Unfair?
Event: Financial Cryptography and Data Security
Location: Barbados
Dates: 22 February 2016 - 26 February 2016
ISBN-13: 9783662549698
Open access status: An open access version is available from UCL Discovery
DOI: 10.1007/978-3-662-54970-4_35
Language: English
Additional information: Copyright 2016 IFCA
UCL classification: UCL > School of BEAMS
UCL > School of BEAMS > Faculty of Engineering Science
URI: http://discovery.ucl.ac.uk/id/eprint/1473782
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