Banking
Emerging Technology Involving Credit/debit Cards
SearchPooch asked: With an increasing trend in online shopping and transactions happening across the globe, there is an imperative need for a plastic card, which will be safe and secure to use. We need to address online fraud, more so in cases where card not present (CNP) transactions like a telephonic order. Every day, millions of consumers use the plastic currencies to make or receive payments across the globe conveniently and quickly. Is it safe and is it getting better?Visa has a two-fold responsibility – to protect the information of the cardholder and to transfer value in a safe and secure environment devoid of fraud and theft. These transactions may be online or made in person. Visa Europe partnered with EMUE Technologies Pty Ltd to develop a stylish and powerful solution to address the growing cases of CNP fraud. They have been addressing these issues with initiatives like CVV2, and verified by Visa. They are testing a new Visa card with the help of MBNA (UK), Corner Bank (Switzerland), Cal (Israel) and IW Bank (Italy). This card has a built in computer that will generate a one-time password in a random manner. This new design has incorporated a microprocessor, a [...]
