Mastercard delivering cards with OTP device included

Published: 2010-06-15
Last Updated: 2010-06-15 08:26:28 UTC
by Manuel Humberto Santander Pelaez (Version: 1)
3 comment(s)

I live in a country where credit and debit card fraud is pretty high and unfortunately banks have not provided secure means to avoid credit and debit card cloning. In USA, I have seen OTP devices to access online banking, but credit cards are pretty much the same. I learned that Mastercard will provide credit cards with OTP included. This is great news because will decrease bank fraud a lot.

More information at http://www.slashgear.com/mastercard-trialling-smart-credit-cards-with-display-keypads-1089351/

-- Manuel Humberto Santander Peláez  |  http://twitter.com/manuelsantander  |  http://manuel.santander.name | msantand at isc dot sans dot org   

Keywords: Mastercard OTP credit debit card fraud
3 comment(s)

Comments

The crooks are certainly getting better. I signed up for an American Express card on Sunday, June 6th as part of a Costco membership. The card arrived at my home on Saturday, June 12th. At 9:40 PM last night, Monday June 14th, I got a "fraud alert" email from American Express. Yes, it was genuine and they've already cancelled by new card and are sending out a replacement.

It probably wasn't too tough for them to find, though. The bad charge was for $42.90 from "Bibit Internet Payments". Googling that firm shows lots of people complaining about bad charges from them, some for the precise amount that hit my card. Can you spell "inside job"? :-)

JJ

Jun 15th 2010
1 decade ago

My bank just sent me my first VISA with the chip built into it... It'll probably be another 5 years before I get to see one of these.

joeblow

Jun 15th 2010
1 decade ago

Visa is issuing them too...
http://www.computerworld.com/s/article/9177663/Visa_launches_one_time_passcode_cards_in_Europe?taxonomyId=17

BDS

Jun 15th 2010
1 decade ago

Login here to join the discussion.


Top of page
Diary Archives