Visa launches hi-tech anti-fraud card CodeSure card to make online shopping safer
Card giant Visa has launched a hi-tech bank card with a built-in keypad and screen designed to make online shopping safer.
The Visa CodeSure card, which could be available within a matter of months,(12 July 2010) looks the same as a standard debit or credit card with the addition of a tiny LCD screen above the signature strip and ten small pressure keypads which allow users to input their Pin.
This Card is set to replace existing schemes
As the technology is built into the card, it replaces the need for separate card readers. The CodeSure is also compatible with the current Verified by Visa system, where users input a pre-agreed password to provide an extra form of security.
In order to use the card when buying online, customers input their card number and then flip the card over and turn on the screen. They then input their pin, and a unique one-time passcode appears on the display, which is used by the cardholder to authenticate the purchase or payment.
The Visa CodeSure is ready to be taken up by banks having already been trialled across Europe, with talks underway about rolling it out to UK customers.
Visa card could help kick web fraud Which principal money researcher Martyn Saville commented: 'This innovation from Visa sounds like a great way to boost consumers' confidence when shopping online.
Existing schemes such as Verified by Visa and MasterCard SecureCode have already made a significant difference in fighting online fraud and this next wave of fraud-fighting technology will hopefully reduce internet crime even further, and without the need for a separate card-reader.
'In the meantime, there are still measures that consumers should take to reduce the risk of falling victim to fraudsters. Only submitting your personal or financial information on websites showing the padlock symbol and 'https' in the address bar, as well as making sure your computer's anti-virus and firewall software is fully up to date, are just two measures you should always follow. For more top tips, read the Which? guide to online security.'
