New high-tech credit card promises to fight online fraud
November 18, 2008
London (ChattahBox) — Visa Europe has announced a newly designed credit card, complete with a keypad and digital number display,in response to popular concerns with online credit card fraud,according to the Daily Mail.
While the credit card is of the usual size and features a credit card number and magnetic strip for use with conventional card readers, it does not have a security code number in the traditional sense.
Instead, cardholders will enter their PIN into the keypad, which will then generate a random number on the display. This random number will serve as the cardholder’s one-time security code, which can then be entered to make online purchases.
Visa hopes the card could boost shopping over the internet.
‘We saw a big rise in online shopping, but consumers were still worried about fraud,’ said Sandra Alzetta of Visa.
‘We hope this new card will help allay those fears, and give consumers more confidence when shopping online.’
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looks like a great idea for security but how are these powered and what happens if the power source runs out. Does that mean yo could just be stuck with no way to pay for your goods?