The world’s most secure credit card
While not completely foolproof, Visa Europe has unveiled their new card that features input buttons and a display screen that goes one step beyond by generating a unique security code each time you planned to use the card.
The card will have built in alpha-numeric display and keypad. When customer wants to make a transaction online, all they need to do is to key in their PIN into the card and the card will then create a one-time security code. The security code will function like the fixed ccv you have at the back of your credit card. Having this feature built in means that those who stole your card will not be able to use your card because they do not know your pin to generate the security code.
More information and video after the break.
The card features a battery which is expected to lasts three years. However, no word on what water will do to the system yet. Visa is currently testing the card with several banks in Europe. The four banks that is currently testing this new features developed by EMUE Technologies include the Bank of America in the UK, Corner Bank in Switzerland, Cal in Israel and IW Bank in Italy.
Sandra Alzetta, head of innovation and new products at Visa Europe, said: “The interest in this solution in the industry has been overwhelming and we look forward to working with the banks involved in the pilots to gain greater insights into how effective this solution can be in the longer term.”
Source: ITPro.co.uk
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November 13th, 2008 at 12:23 am
Nice one! I hope that they update all Visa cards in the world with this!
Michael Aulia´s last blog post..Is my blog cool?
November 13th, 2008 at 1:02 am
It’s about time someone came up with a better credit card protection system. Finally ‘multifactor’ security comes to the credit card: something you know as well as something you have. Unfortunately most users will quickly give up their pin when someone shows them their knife (or worse)…
Willem Kossen´s last blog post..Daily Digest for 2008-10-28
November 13th, 2008 at 1:28 am
It is one thing to have your credit card stolden. Another to be beaten up to get your PIN number. Is voiceprint technology accurate and reliable so that they do not give false positive or false negatives?
November 13th, 2008 at 5:33 am
Uh…. and what is the difference with only using your pin…?? (like a normal bankcard)
Longer waiting lines at the cashier..??
November 13th, 2008 at 11:43 pm
I saw this on a talk back television show this morning. The battery has a four year life. I like this idea as it can be used online.
Swim´s last blog post..Australian Swimwear Designers
November 14th, 2008 at 12:46 am
This is nice however I’ve a stupid
question if anyone can answer.
Entering my pin shall generate a random security code that I entre online, so how the card will be validated in online transaction since the code is random? Or they mean hashing the pin code and send it encrypted to the bank so it de-encrypt it again to the normal pin code?
Any insight
Hicham´s last blog post..Review Gees: Bloggers Unite for Refugees!
November 14th, 2008 at 5:35 pm
nice… of course security is highly important. looking forward to the results and release
Whateverebay´s last blog post..Welcome to FeedBurner
November 15th, 2008 at 10:27 am
some one have use my credit card before, I have reported to bank, and take very long time to verify… very troublesome, i hope I also can get this kind of secure credit card