Credit card with keypad trialled
Barclaycard is trialling a Visa credit card with its own keypad that generates a passcode for transactions over the internet to help fight fraud.
Accountancy firm Deloitte is piloting the new card, which has a keypad and LCD screen embedded into it, and employees will be able to use it to remotely access their IT system as well as use it as an ordinary corporate card.
Users enter their PIN onto the keypad, which generates a one-off number needed to complete the transaction.
If the technology, developed by technology firm Emue Technolgies, is rolled out to consumers, Barclaycard hopes it would prevent card not present (CNP) fraud and identity theft when used for online and telephone purchases.
Currently, fraudsters only need the numbers on the front and back of the card to buy over the internet as retailers cannot verify the chip and PIN.
Card-not-present fraud accounts for 54 per cent of all plastic card fraud, and cost the industry £328.4 million last year.
Sandra Alzetta, senior vice president for innovation at Visa Europe, said: "By embedding a battery, PIN pad and LED screen in a payment card, we believe we are offering the most innovative card product in the marketplace."
The card has a battery designed to last for three years, so the card will expire before the battery does.
The pilot will include up to 500 cardholders and will run for three months from April 2009.
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