Credit Card Fraud. One-Time Password Credit Cards Closer to a Reality. Second City Style Fashion Blog

Fountain of 30

May 2, 2007 • Shopping

Stolen_credit_card_2

To shop online and not worry about your information being stolen…ah. Well, the technology has arrived. Will banks will offer it…is another question. According to StoreFrontBackTalk, two security firms have developed a fully-functional credit card with a tiny monitor and button that will issue one-time passwords.

Verisign and Innovative Card Technologies (ICT)—announced Tuesday that they are jointly trying to sell this concept to various credit-card (and debit card) issuers, with per-card prices ranging from $10 to $30, depending on volume purchased. That compares with a traditional card that costs less than a dollar.

The concept of the card is powerful and timely, as retailers are desperately trying to improve credit card  security, especially for online transactions. With thefts of credit-card identifying data growing rampant, the idea of an authentication code that—in theory—couldn’t possibly be stolen from some retailer’s database is quite compelling.

Read the entire acticle, "New For Your Wallet, Secure Credit Cards With Displays and a Button" by Evan Schuman

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One Response to Credit Card Fraud. One-Time Password Credit Cards Closer to a Reality. Second City Style Fashion Blog

  1. I can’t live without my amex card that gives me discounts and allows to collect points for free airline tickets. I go shopping with it and put almost every possible purchase on it. But i’m really afraid to pay with it online because of fraud and so i feel very limited with my credit card options. Almost all my friends shop online with risk but i wouldn’t. So the new technology would be just to the point. Looking forward to its implementation…

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