14 DAY TRIAL // Meet the A generation credit card. It looks futuristic enough to make me think of "Sliders". But, besides that, the device incorporates a 12-button keyboard, has a built-in tiny microprocessor and reveals an embedded ATM-like alphanumeric display. In addition, it promises to provide unprecedented security in phone and online banking transactions.
Designed just like a standard payment card, the Credit Card Embedded Authentication Device features a number of authentication 'modes' to use in online, ATM or phone transactions.
Gizmag gives an example: " a user can enter his or her secret PIN into the card's keypad to receive a numeric pass code for one-time use. To authorize a banking transaction, the passcode is entered into an interface and instantly validated by an authentication server. This process removes the need to enter a PIN into an unsecure device such as a web browser and provides a user-friendly defense against electronic banking fraud - a problem that costs financial institutions an estimated $4 billion annually".
According to Gizmag, the idea behind this bright solution was developed jointly by Innovative Card Technologies and eMue Technologies; the smart device was recently presented at InfoSecurity's Tomorrow's Technology Today Awards and picked up the "Judge's Choice" and "Technical Achievement" ?lan Awards, at ICMA's Annual Card Manufacturing and Personalization Expo in San Diego.
The fellows from ?lan awards are known for recognizing card design innovation and technical achievement in the card manufacturing industry, all these aspects being judged by an independent panel of ICMA associate members, industry notables and several international journalists.
So that you know, the Credit Card Embedded Authentication Device will make its consumer debut at Cartes & IDentification in Paris on November 13t -15, and hopefully we'll get one of these soon and say goodbye to banking frauds, which 'eat' more than 4 billion annually.
That only makes me wonder: what's next? How about no cash at all?
