Dec 04 2008
New Visa Credit Card
I am currently reviewing which bank I should give my business to, and as part of this review I am considering getting a new credit card. Actually, I am wondering if I should get a debit card instead.
Therefore, I was very interested in reading about a new credit card that Visa is releasing. The unique thing about this new card is that when a user wants to use it then he/she enters his/her PIN into the card. So the card has a small keyboard in it, and yet it is still the same size as a normal credit card. The card then generates a unique one use code that must be used as part of the purchasing process. This ensures that user is really in possession of the card.
The vagueness of the Data Protection Act legislation covering the usage and storage of credit card details in the UK is also very interesting:
appropriate technical and organisational measures shall be taken against unauthorised or unlawful processing of personal data and against accidental loss or destruction of, or damage to, personal data
having regard to the state of technological development and the cost of implementing any measures
More details about all of this can be read in Visa’s digital credit card could raise legal stakes.
In terms of credit card security, the thing that really amazes me is that the CVV number is printed on the back of the card! This means that anybody who can get hold of a credit card (even for a few seconds) can later use the credit card for online purchases!
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