Telstra has revealed the addition of almost one million new mobile services in the six months to December 2011, but Sensis revenues plummeted 24 percent in 12 months.
Think of it as a natural progression from the CVV2 security code on the
reverse of credit cards which have been fairly unsuccessful in
preventing CNP fraud it has to be said, and an update to the Verified
by Visa scheme which is hit and miss in terms of participating online
retailer take-up.
So how does the VISA PIN Card actually make things safer then?
The VISA PIN card works by combining the two concepts of only the
cardholder has the card in their physical possession (or they could not
enter the code) and only the cardholder knows their PIN (or they could
not enter the code.)
Obviously the latter is open to some compromise, but user stupidity is never easy to overcome fully - no matter how advanced the technology the user could always do with an upgrade.
Anyhow, in practise, when entering an online transaction the cardholder
presses a buy now button on the retailer website, enters their PIN on
the credit card itself and this generates a one-time-only code which
can then be used like the CVV2 code to authenticate the payment.
Peter Ayliffe, Visa Europe President and CEO, says "As e-commerce
continues to flourish, we and the rest of the payment industry must
find ever more sophisticated ways to combat the work of criminals..."
"By combining the technology necessary to create one-time only codes
with a standard chip card" Ayliffe continues "we are giving cardholders
a truly user-friendly experience and offering issuing banks an
unrivalled method of ensuring the integrity of all types of remote
transactions – remote banking, online and telephone banking as well as
fund transfer requests."
A video of the VISA PIN Card in action can be viewed here.
David Bass
| For the fourth year in a row, IDC has placed content security provider Websense (NASDAQ: WBSN) at the top of the IDC Worldwide Web Security 2011 –…
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