You are here - HomeLifestyleSciTech Story

SciTech


Bank cards that generate new PIN each time you shop online

ANI

Posted On Monday, July 19, 2010 at 01:40:21 AM



How it works
  1. Cardholder activates the authentication by pressing ‘Verified by Visa’ button on the card's keypad.
  2. When prompted the consumer inputs their PIN into the keypad embedded in the card.
  3. A unique single use passcode appears on the card's display. This number is keyed into the website that the cardholder has opened.

Brit customers will soon be provided new bank cards that have been designed to put an end to online shopping fraud. 

About the same size as conventional debit/credit cards, the Visa-s cards comprise a 12 button keypad, a miniature screen and a mini battery that can power the security system for up to three years. 

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

Only a person who knows the PIN can use the card and it will generate a new password every time a purchase on the web needs to be authorised. The company has named the system Visa CodeSure and claims it will prevent unauthorised use.

“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 Daily Mail quoted Sandra Alzetta, head of innovation at Visa Europe, as saying.

Alzetta added, “The solution goes beyond just online and remote shopping but also allows organisations to use the card in place of other online log-in systems to access.” 





Mail this article Mail this article Print this article Print this article Translate this article Translate this article Rate me....
Share Share Reddit.com Share del.icio.us Share StumbleUpon.com