Eat-and-run verification in Korea
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Verification of data is a term that refers to information that justifies or proves one’s identity. Nowadays, more and more people are using the Internet, enabling them to do various transactions without actually meeting each other. Because of this reason, personal information about individual users is vulnerable to risk. For instance, when an individual registers on a website or uses their credit cards for shopping online, there is always the possibility of unauthorized access to their data by cybercriminals who might try to steal such information using the Internet.
An eat-and-run verification system was established to protect users’ data from identity thieves and other cybercriminals in Korea. Eat-and-run verification is an authentication method that eliminates the traditional use of photo or videotape for credential issuance and uses a digital certificate instead. Eat-and-run systems operated by banks and credit card companies can make financial transactions possible without issuing any paperwork at all. Eat-and-run verification is convenient because it avoids time spent on doing cumbersome paperwork, which people have been accustomed to doing only during the process of getting a new bank book or credit card before.
According to statistics, eat-and-run systems are being used by about 5 million users. Eat-and-run verification is used to perform various banking transactions, shop online, transfer money to friends, and make government officials’ salary transfers in Korea. Eat-and-run systems in Korea are convenient for individual users and help the country’s economy since it helps reduce paperwork and reduce financial loss through counterfeiting or theft. Eat-and-run systems in Korea must be improved further to protect users’ interests even better.
Verification is a new authentication method that uses digital certificates and allows the account owner to open an eat-and-run account over the Internet. Eat-and-see verification can be used for various transactions such as making deposits, withdrawing cash, transferring funds between eat-and-see accounts, writing checks, or paying bills online. Eat and see verification when carried out in person involves nothing more than swiping one’s eat und run card through a terminal that reads information from the card.