A new credit card with keypad to prevent online fraud

[Markus]

LONDON: In a bid to prevent online shopping fraud, US global payments technology company Visa's European arm has designed a new credit card which is complete with a keypad and digital number display.

The new Visa CodeSure card is of the same size as a conventional credit card but features a miniature keyboard and screen used to generate a constantly changing series of unique security passwords required to authorise purchases over the Internet, the 'Daily Mail' reported.

Head of Innovation at Visa Europe, Sandra Alzetta, said: "This exclusive Visa solution is an extremely convenient way to bring a similar level of security to payments online as we now enjoy on the high street.

"The solution goes beyond online and remote shopping but also allows organisations to use the card in place of other online log-in systems to access."

The card includes a 12-button keypad, a screen and a battery that will power the security system for three years.

The user will input their PIN on the keyboard, which will then generate a unique password, including letters and numbers, that will be typed into the web shopping store to approve a purchase.

The card can only be used by a person who knows the PIN and it will generate a new password each time an Internet purchase needs to be authorised.

Visa said the same card can be used to generate secure passwords to allow customers to access their online bank accounts. This avoids using the same password all the time.

Visa has worked on the card with Emue Technologies and has conducted trials in the UK, Italy, Israel, Turkey, Switzerland and Germany.

Source:- Now, a new credit card with keypad to prevent online fraud - International Business - Business - The Times of India

 

[Chanakyaa]

This is NOT very new. I have actuallu used a similar system for PayPal and its very cheap actually.

Its a fantastic move ..though a bit late.

 

[Hyde]

This is NOT very new. I have actuallu used a similar system for PayPal and its very cheap actually.

Its a fantastic move ..though a bit late.

London is always late in these technologies.......... i remember last time when chip n pin system was introduced i read somewhere that France has been using this system since 25 years now (not sure though)

 

[somebozo]

This is old story.master card already has similar system if supported by a bank, you could log online and generate a one time use number with fixed amiount of $$$ deposited into it..its called one time prepaid master card.

 

[SpArK]

I am not sure whether u guys are discussing this one.

 

[Hyde]

in UK barclays has got the best security features and most convenient online banking. You can transfer money into anybody's account in just a matter of 1 second and you can approve your transaction from the machine provided by barclays by entering your pin number and the total amount you are paying to soembody

 

[SpArK]

in UK barclays has got the best security features and most convenient online banking. You can transfer money into anybody's account in just a matter of 1 second and you can approve your transaction from the machine provided by barclays by entering your pin number and the total amount you are paying to soembody

Natwest has the same too. not sure about Lloylds though.