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Credit Card With LCD and Keypad Ensures Encryption in Every Transaction

Posted November 18, 2008 8:34 AM

From Newlaunches.com:

Visa Europe has announced a newly designed credit card, complete with a keypad and digital number display. The 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.

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Sparkstation
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New Zealand - Member - Interested in everything- see my Profile please APIX Pilot Plant Design Project - Member - Member Engineering Fields - Electrical Engineering - Member Engineering Fields - Power Engineering - Member Engineering Fields - Civil Engineering - Member Hobbies - Musician - Autoharp and Harmonica Hobbies - Hunting - Member Hobbies - Fishing - Member

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#1

Re: Credit Card With LCD and Keypad Ensures Encryption in Every Transaction

11/18/2008 9:45 PM

That's an interesting but flawed development.

I wonder how long before that new card is cloned, and the use of those clones becomes widespread.

Kind Regards....

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 "The number of inventions increases faster than the need for them at the time" - SparkY
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Apps Man
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#2
In reply to #1

Re: Credit Card With LCD and Keypad Ensures Encryption in Every Transaction

11/19/2008 12:44 PM

Hi Sparky,

Why do you think it is flawed? By changing the security code for every transaction I would think it would be more secure.
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Sparkstation
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New Zealand - Member - Interested in everything- see my Profile please APIX Pilot Plant Design Project - Member - Member Engineering Fields - Electrical Engineering - Member Engineering Fields - Power Engineering - Member Engineering Fields - Civil Engineering - Member Hobbies - Musician - Autoharp and Harmonica Hobbies - Hunting - Member Hobbies - Fishing - Member

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#3
In reply to #2

Re: Credit Card With LCD and Keypad Ensures Encryption in Every Transaction

11/20/2008 1:45 AM

Hello Apps Man

I consider it is flawed because users of the cards and the card Companies which use the technology will think and tell the users that the above system is secure, the same as they told users of Credit and Debit Cards in earlier days.

The above type of card may be secure for only a short time, because all card ID systems can easily have "Data Loss" - "Identity Theft" and much more by others.

The safest transaction is a Cash or Barter Transaction - Make the most of Cash/Barter while we still have that type of transaction permitted by "The Authorities".

Kind Regards....

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 "The number of inventions increases faster than the need for them at the time" - SparkY
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agua_doc
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#4
In reply to #3

Re: Credit Card With LCD and Keypad Ensures Encryption in Every Transaction

11/21/2008 12:29 PM

I agree, Cash/Barter is still the only way.

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