Online shopping fraud has become a serious matter to discuss these days. US global payments technology company Visa's European arm has designed a new credit card which is complete with a keypad and a 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 authorize purchases over the internet. The card includes a 12-button keypad, a screen and a battery that will power the security system for three years. 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 new 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 authorized.
that sounds great and should prevent fraudulent transactions to a great extent.
ReplyDeletehsbc india provides a similar device which generates a unique code everytime the button is pressed and that has to be used alongwith the password in order to log in to the account.
Yeah. It's just like EMC's RSA token. You need to use this generated code along with your password.
ReplyDeleteHmm...I was hopping technology makes things simpler as we progress. Instead, it seems to be becoming more complex..
ReplyDelete:) We have Google Wallet, which might be much easier... but, you should have an Android-powered phone with NFC and also, i dont think its available in India yet.
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