Simon Lelieveldt (S. Lelieveldt Consultancy)

Payments: Risky business!

In this presentation security is placed in the context of the payments industry, more specifically the credit-card payments. It is demonstrated that there is a close interconnection between security and liability on three levels:

• the regulatory level; where government requirements as to consumer protection result in the implementation of fraud measures to be able to sustain a business case under these regualtions,
• the business level; under the existing legal rules/business model of credit-card payments fraud is not the prime concern, but something that can be managed
• the instrument level; security and liability become closely interconnected by applying the so-called 3D model and the liability-shift.

Essentially this means that the application of a certain payment instrument/protection measure will lead to lower liability or no liability at all.  

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Last Version - $Revision: 1.1 $ / $Date: 2003/06/17 08:10:13 $
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