I have read about how hopelessly insecure credit cards are, and was wondering if there is, in the uk, a provider of either:
- One time use credit cards.
- Text me on transaction cards.
- Pre paid cards: limited exposure.
- Secure transaction cards ( I suspect these would be incompatible with the existing system)
I have looked into Emue: In Europe there is a product that uses it, Visa CodeSure.
Users input their card number when purchasing online, flip the card over and turn on the screen.
They then input their pin, and a unique one-time-passcode appears on the display, which is used by the cardholder to authenticate the purchase or payment.
So basically, you hand over the keys, then do some other stuff that may deny you access. Your keys (card number) can still be used on the thousands of sites that don't use this scheme.
Also it seems to be a replacement to using a separate card reader, thus going in the wrong direction to allow a usb reader, and automation.
Visa CodeSure does away with these card readers and replaces the current Verified by Visa system for those using the new card.
It also seems to be increasing the amount of techno-junk.
I think it will reduce fraud, however I don't think it will make transactions secure.