Visa
is introducing a revolutionary new credit card (
video#1,
video#2)
allowing users to use their PIN for online card transactions. Aimed at savvy
internet users, the Visa PIN card features an alpha-numeric display and a
12-button keypad built into the back of a conventional credit, debit or prepaid
card. The card, developed using technology from Australia-based Emue
technologies, promises a three-year battery life, and much improved protection
from online fraudsters. Customers enter their PIN code onto the keypad and this
generates one-time password. The one-time password is then used to authenticate
online purchases. MBNA, a Bank of America company in the UK, Cornèr Bank in
Switzerland, Cal in Israel and IW Bank in Italy will each begin limited pilot
trials of the new card shortly.
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