Visa plans to release a new version of the credit card that will cut down online shopping fraud. This new credit card will be the same basic size and form, but with one huge difference – it will have a built in LCD and keypad on the back of the card. Powered by a built in battery that will last up to three years, these cards will work until they expire and there is no need to worry about charging them.
The way the that these new credit cards will prevent fraud is by making it necessary for the users to input their pin every time they make an online purchase. The card will then display a unique security code, which must be entered into the website, which will forward it to Visa’s servers, where the purchase will be approved.
“We hope this new card will help allay those fears, and give consumers more confidence when shopping online” said Sandra Alzetta of Visa.
The company hopes that the card will boost shopping over the Internet and it will be tested in Britain early next year by the company MBNA.