Visa is introducing a revolutionary new credit card allowing users to use their PIN for online card transactions.
Aimed at savvy internet users, the Visa PIN card features an alpha-numeric display and a 12-button keypad built into the back of a conventional credit, debit or prepaid card. The card, developed using technology from Australia-based Emue technologies, promises a three-year battery life, and much improved protection from online fraudsters.
Customers enter their PIN code onto the keypad and this generates one-time password. The one-time password is then used to authenticate online purchases.
MBNA, a Bank of America company in the UK, CornÃ¨r Bank in Switzerland, Cal in Israel and IW Bank in Italy will each begin limited pilot trials of the new card shortly.