Enhanced security for credit card transactions introduced by Visa

Visa is introducing the latest security tools to protect customers when they initiate payments with credit or debit cards. Visa offers a PIN pad and LCD screen embedded into the actual card. With new pad and LCD customers are provided an extra layer of security checking when purchasing goods online.

At making the purchase online by means of the card Internet store will ask for a unique PIN as well as customer’s actual card details. The unique number is obtained when a cardholder keys his/her secret card PIN into the card. After this the LCD screen will display a unique number to be entered into the PC. The new solution is planned to undergo the trial with four banks including Cal in Israel, Corner Bank in Switzerland, IW Bank in Italy, and MBNA in the UK. The pad and screen with a lifetime of 4 years will be powered by the battery fitted to the card.

Besides, Visa is working with mobile network operator O2 to introduce mobile phone contactless payment for customers. In addition, the credit card company is also further developing its online Verified by Visa system. The upgrades will include additional information to show the user where they are in the verification process. Another advantage to be added is that a buyer will not see a separate load as it currently is, instead the box that comes up will remain within the site where he/she is making a purchase.