Now, bank cards that generate new PIN each time you shop online
By ANISunday, July 18, 2010
LONDON - 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.” (ANI)
