Monday, October 29, 2007

World-first technology combines payment card and authentication in a single device - gizmag Article

gizmag reports: "Appearing in the standard form of a payment card, the Credit Card Embedded Authentication Device has a number of authentication ‘modes’ for use in online, phone, or ATM transactions. For example, a user can enter his or her secret PIN into the card’s keypad to receive a numeric passcode for one-time use. To authorize a banking transaction, the passcode is entered into an interface and instantly validated by an authentication server. This process removes the need to enter a PIN into an unsecure device such as a web browser and provides a user-friendly defense against electronic banking fraud - a problem that costs financial institutions an estimated $4 billion annually."

Here is a brief article including some pictures of a possible next-generation credit card that incorporates a alphanumeric display, 12-button keyboard, and an embedded microprocessor.
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