Credit cards get battery-powered PIN technology

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Deloitte is trialling a new Barclaycard payment card that could cut down credit card fraud by adding an extra layer of security.

The Visa Corporate card has an embedded keypad and LCD screen powered by a battery, which allows users to enter their PIN and generate a one-time use passcode to identify themselves online or over the phone.

This could help secure online transactions without the need of a separate security token or device.

Stephen Ley, head of the UK payments team at Deloitte, said the card could also strike a blow against phishing attacks against banks.

“It will also allow you to check when you receive an email from your bank whether it has actually come from them," he said.

“You can enter the code from the email and it will tell you whether it is a proper email or not," he added.

The technology was developed with EMUE technologies.

The three-month pilot involves 500 Deloitte cardholders using the device to remotely access their company’s IT system using a virtual private network (VPN), giving workers a corporate credit card and a secure way of accessing their company IT system within one card.

This could mean that workers would have a corporate credit card and a secure way of accessing an IT network within one device.

Ley said: “It saves us the cost of issuing a separate token. From our point of view it’s convenient for our people, cost-saving and the future against fraud.”

Visa trialled this technology with several other banks last year, while its chief risk officer recently highlighted the threat of card fraud in the economic downturn.

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