gmb45
13th May, 2009, 04:01 PM
New Anti-Fraud Bank Card Has Its Own Keypad
A hi-tech bank card with its own embedded keypad and digital display has been launched to combat online shopping fraud.
The Visa card allows shoppers to enter their own PIN number before using the card online, generating a unique code.
This code is then used by the shopper - either over the phone or on their computers - to verify their identities.
The card is currently being piloted in partnership with Barclaycard by employees at accountancy giant Deloitte.
If successful the plans will be rolled out to all UK bank customers.
The card has been designed to combat the growing scourge of online fraud as internet shopping goes from strength to strength.
Sandra Alzetta, of Visa Europe, said: "By embedding a battery, PIN pad and LED screen in a payment card, we believe we are offering the most innovative card product in the marketplace.
"The card will help in the fight against card-not-present (CNP) fraud in two ways.
"Firstly, as the one-time code generated is for a specific transaction, once used it cannot be used again by anyone.
"Secondly a fraudster would need to be able to get hold of a card and know the persons PIN in order to commit fraud."
A hi-tech bank card with its own embedded keypad and digital display has been launched to combat online shopping fraud.
The Visa card allows shoppers to enter their own PIN number before using the card online, generating a unique code.
This code is then used by the shopper - either over the phone or on their computers - to verify their identities.
The card is currently being piloted in partnership with Barclaycard by employees at accountancy giant Deloitte.
If successful the plans will be rolled out to all UK bank customers.
The card has been designed to combat the growing scourge of online fraud as internet shopping goes from strength to strength.
Sandra Alzetta, of Visa Europe, said: "By embedding a battery, PIN pad and LED screen in a payment card, we believe we are offering the most innovative card product in the marketplace.
"The card will help in the fight against card-not-present (CNP) fraud in two ways.
"Firstly, as the one-time code generated is for a specific transaction, once used it cannot be used again by anyone.
"Secondly a fraudster would need to be able to get hold of a card and know the persons PIN in order to commit fraud."