VISA adds PIN security to online purchasing

11 November 2008

Despite several jillion* transactions a day, there are plenty of folk still suspicious of buying goods online. There have been oodles** of scare stories about identity fraud and phishing to justify their concerns, but VISA have launched a special ubercard*** that will put the minds of webflappees*** at rest.

* not a real number
** not a real word
*** also not a real word, but "uber" is an entirely acceptable prefix
**** etcetera

The credit card-sized device (which somehow squeezes a battery inside it) allows you to enter your PIN number, which generates a one-time code. All you'll have to do is enter that code on on the website you're purchasing from, and bingo bango bongo, your transaction is complete. Of course, it'll mean scrapping the way every website payment system works at the moment. And it seems to go head to head with Verified by Visa, so presumably that'll be phased out to prevent a Betamax vs VHS farce (replace with a Blu-Ray analogy if you're under the age of 24).

Visa say leading banks may trial the card over the next few months; if the system works without causing brains to melt / implode / ooze from ears like warm coffee, then they may launch sometime next year.

[Gizmodo UK]

TOPICS:   High Street News

1 comment

  • Will
    I've seen this sort of system already in use for NatWest online bank transactions: http://snurl.com/5bjsa Obviously not quite the same, but it has a fiddly pin thingy nevertheless. It'll be interesting to see how Visa intend to get this system out and used by all Visa cardholders and all online shops... can't imagine it'll catch on that easily.

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