October 26th, 2007 by ketyung
Credit card is no doubt the kind of plastic card that has been getting tons of frauds. So, we’ll definitely need better security on it and the next generation of credit card will be having a much more tightened security control i.e you’ll need to punch in password before you could make use of it to pay your bills or your meal etc.
This new password-protected idea on credit card has been introduced to us by two companies. They are Innovative Card Technologies and eMue Technologies. These two companies have jointly developed a credit card that looks like your standard banking credit or debit card at first glance, except it’s got a tiny display and a 10 digit keypad. This newly introduced credit card with extra security system is known as Credit Card Embedded Authentication Device.
The Credit Card Embedded Authentication Device has a number of authentication modes for use in online, phone, or ATM transactions. To use this card, the user first needs to enter his or her secret PIN into the card’s keypad to receive a numeric passcode for one-time use. To authorize the banking transaction, the user needs to enter the passcode into a device (e.g the web browser or ATM) and it’ll then be validated instantly by the system authentication server and allow the transaction to be completed. This will bypass avoid removes the need to enter PIN or authorization number directly into an unsecure device such as a web browser or ATM that could be compromised easily - meaning that you will leave NO footprint of your PIN or card number on any devices that might put it at risk to be captured by fraudsters.
Password-protected credit card,Credit Card Embedded Authentication Device,credit card,credit card security
Technorati Tags: Password-protected credit card, Credit Card Embedded Authentication Device, credit card, credit card security
Stumble it!
October 26th, 2007 at 5:31 am
Any idea when this will become standard for all credit cards?
October 26th, 2007 at 6:07 am
No solid info
It’s still a concept that is being pushed by the 2 companies. But, anyway, it’s certainly a great idea 
so we could safely use our credit cards 
October 26th, 2007 at 8:17 am
[...] Via: TechChee and OhGizmo [...]
November 17th, 2008 at 6:55 am
[...] was last year Innovative Card Technologies and eMue Technologies introduced the credit card that comes with its own authentication system, and now Visa Europe has rolled out their newly [...]