How secure is stored value payment cards

speaker: Sean Lam, Jewel Paymentech event: Friday Hacks by NUS Hackers ** credit card vs stored value card ** weakness of credit card magstripe (static authentication) still available issuing system approving the transaction is the achilies heel ** weakness of stored value chip vulnerablity key compromise reload system never used cross border ** using software to combat fraud and credit risks between terminal and acquiring host (merchant’s bank) protect acquiring host from bad merchants