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By : Kiran Kumar Reddy, Business Analyst, SAP
Industry : Hardware Functional Area : R&D
Activity:  14 comments  262 views  last activity : 07 19 2010 10:24:05 +0000
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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.


http://www.wired.com/images_blogs/gadgetlab/8231_24100745847.png

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.

So, what do you think guys, will this new credit card prevent online fraud or credit card fraud for that matter..........

 
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13 comments on "A new credit card with keyboard to prevent online fraud!"
  Commented by  Jaygopal Raghavan, Marketing Manager, Landmark Group    | 08 07 2010 16:21:18 +0000
It will prevent online fraud till the fraudsters come up with an idea to beat this. 
Thanks for the good referal. 
  Commented by  NATTERAJA R. ARIKRISHNAN, Area Sales Manager, HPL INDIA LTD, CHENNAI    | 07 22 2010 12:16:55 +0000
Thanks for the information Mr.Kiran Kumar.
Any how again the loophole will be found out by the..... fraudes.   
  Commented by  k Rajagopalan, Area Manager, Amitex Polymers (P) Ltd.    | 07 20 2010 16:30:00 +0000
Hallo Kiran, Very interesting. Hope this credit card will be launched here as early as possible.Thanks for sharing the information.
K Rajagopalan.
  Commented by  KALIYAMOORTHY, Oil & Gas Area Coordinator, Undisclosed    | 07 20 2010 12:25:52 +0000
Sometime back also, there was a similar topic on credit card & FRAUDS. There itself ,it was said web enabled key boards are one of the way to reduce &  a multiple key-word(clues) usage.Introducing this kind of methods in credit card itself is most welcome. Because, even if pin is known to others, this second level of security in clearing the correct clue will block the frauds.Most of the time, the frauds are in duplicating cards & stealing of passwords. Also, between the purchaser & the seller, if we say online, the problem comes from the agency that is really realizing the money in- between, say for example, Pay pal etc.We need to control things at that point also. Not merely at the port of use.
  Commented by  Rathin Deb, Resident Manager, Tower Infotech Ltd.    | 07 20 2010 10:47:53 +0000
Good when it will be in India?
  Commented by  Dr Ali Ahmad, Medical Superintendent/Director, Surbhi Hospital    | 07 20 2010 08:45:10 +0000
Thanks Mr Kiran, it might not fully prevent frauds, but may control it to some extent.
  Commented by  Piyush Asthana, Project Coordinator, Knowledge Factor India Pvt. Ltd.    | 07 20 2010 05:48:17 +0000
its fantabulous
  Commented by  Mohammad Bakhsh, Project Leader/Managing Consultant, Freelancer    | 07 20 2010 02:55:14 +0000
 Very beautiful  security system,Thanks,Kiran
  Commented by  kanukurthy sudershanrao, Operations Manager, Andhra Bank    | 07 19 2010 13:20:42 +0000
it is our experience as bankers people approaching with the request for issue of a new pin most of the time, it is also observed some people are in the habit their pin number and card together.  Is it possible for them to remember the everchanging pin and password, there may be practical problems.
  Commented by  Atul Kumar, Project Leader    | 07 19 2010 13:14:11 +0000
I am sure that new method will minimise the misuse of cards and trouble for customers as well as bankers and insurance companies. Thanks for sharing.
  Commented by  Wajid.Pathan, B.Tech/B.E., ,Pune,Engineering Professional    | 07 19 2010 13:02:34 +0000
good one
  Commented by  Nitin M Aras, Head/VP/GM-Tech. Support, Wintech Taparia Limited    | 07 19 2010 12:48:29 +0000
nice to see such an innovative security system... thanks Kiran
  Commented by  George Varghese, Proprietor, Jecyees    | 07 19 2010 11:27:42 +0000
It is good to  hear readdy, We must see how much practical this is
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