lec 2 Flashcards
(13 cards)
Front
Back
What was the first method used for conducting payment card transactions
and what was its limitation?
How has payment card technology evolved over time?
Payment cards progressed from embossed cards to magnetic stripe (logging transactions electronically)
Who are the key players involved in a card payment system and what are their roles?
Cardholder: Uses the card for purchases. Retailer/Merchant: Sells goods or services. Acquirer: Processes card transactions for the merchant. Issuer: The bank or institution that issues the card. Card Scheme: Oversees rules and transaction flows (e.g., Visa, Mastercard).
What is the significance of the PAN (Primary Account Number) in payment systems?
The PAN is the card number used to identify the account and route transactions correctly. The first digits indicate the card scheme (e.g.
What functions do card schemes perform in the transaction cycle?
Card schemes define transaction rules
How can the card scheme be bypassed during a transaction?
Sometimes the acquirer caches the issuer information and communicates directly
What type of cyberattack did the Magecart group use on British Airways?
They altered BA’s JavaScript file to include malicious code that captured and serialized form data when the payment button was pressed. The stolen data was sent to a rogue server mimicking BA
What happened during the Magecart attack on Newegg
and what was the impact?
Why is JavaScript’s event-driven nature a security challenge in web development?
Event-driven scripts can execute based on user actions (e.g.
Why is JavaScript difficult to formalize or secure through verification methods?
JavaScript supports prototype inheritance
Why has the credit card industry remained a persistent target for cybercriminals?
Due to its high monetary value and widespread usage
What advancement made physical card cloning less effective
and how did attackers respond?
