By Andrew Liszewski
In yet another attempt to prevent electronic banking fraud, two companies, Innovative Card Technologies and eMue Technologies, have jointly developed this next-generation transaction card that promises to provide a whole new level of security.
At a glance the Credit Card Embedded Authentication Device looks like your standard banking debit card, except of course that it has a tiny display and a 10 digit keypad. The idea is that instead of entering a PIN or authorization number into a web browser or ATM that could be compromised, you use the card and its own secure system. As an example a user could enter their PIN number into the card and be provided with a one-time use numeric passcode. To authorize a transaction that passcode would then be entered into a device where it would be validated through an authentication server, allowing the transaction to be completed.
While I have no idea when a card like this would actually be available to consumers, it is apparently being shown at various trade shows so it’s not just a concept.