I am customer of a large European bank, but I have found the following happening consistently with multiple past banks.
Basically, I have always been able to pay using my legitimate card(s), credit or debit, under a fake name.
When you are prompted online for your card information, you will normally select
- Circuit (Visa, Mastercard, etc, sometimes optional as the merchant will deduce from the first digits)
- Expiration date
- CVV2/security code
- Card holder
Well, I found I can consistently use a fake name when other fields are consistent. I can easily get my payment approved. Often I am redirect to secondary verification (OTP) and pass that brilliantly.
I am writing here because this makes me a bit confused. Often merchants say "Please type your name as displayed on the card" so that you think they (someone) will do a strong check on the record and refuse the transaction if you omit/enter a second name inconsistently or use apostrophes/accents inconsistently, exactly like what happens often in airline travel when boarding card doesn't match passenger name as displayed on passport/ID. To make a counterexample...
But here I am speaking about completely different names. The only time I was called by my bank "Sir, we are detecting a number of attempted charges" I was using my real name with a brand new card (you know... you have to move all your online subscriptions). I was never called, no card ever blocked for "Sir, someone could have stolen your card details".
Question time: in the technical world of credit card payment, 1) what is the importance of the card holder name if it's not consistently checked? 2) who should be responsible for checking? bank, merchant or transaction processor?
Note: I know very well that just using a pseudonym does not make me anonymous. Of course the transaction can be tracked back to an individual, but that requires a lot of juridical power (and legitimate interest, speaking about Europe).