Customers looking to battle credit card fraud could soon have a new weapon with which to do it – a credit card with a built in keypad.
Dynamics, a credit card developer, works to develop next generation technology and the company’s latest invention is to have a card that requires a pin to be entered just to use it.
It is hoped that the “Hidden” card will help to eradicate some forms of credit card fraud by making it more difficult to clone card numbers.
Company founder and chief executive Jeff Mullen said the company has the technology to do just that while it also carries additional security measures.
Data free cards
The middle six digits of the card appear as a blank screen which can only be viewed once a five digit passcode is entered onto the keypad on the card.
It can also be used on regular card readers as entering the correct pin also activates the card’s magnetic strip.
Essentially then, a card without knowing the code is useless, as the number and data on the strip are not present – “it’s a dead piece of plastic,” according to Mr Mullen.
But the new technology doesn’t just stop there – every transaction sees the card generate a new code, meaning the card cannot be used again as the code will be different.
Constantly changing security details
The three digit security number is constantly changing too, providing additional security for those who love to shop online.
Despite all of the technology that is packed into the card, they remain flexible and are waterproof – ideal should the card accidentally pass through the washing machine!
The cards are powered by a battery that is capable of lasting for four years, although the Hidden card expires after three to ensure that any technological issues do not occur.
It is initially set for a launch in the US and only time will tell as to whether it will take off in the UK in the future.
Considering prepaid options
If changing a credit card is not a preferred method of enhancing security, then transferring money to a prepaid card could be a viable alternative.
Unlike credit and debit cards, prepaid cards are not directly linked to a bank account making fraudulent activity a lot more difficult.
For those with concerns over their funds, transferring some to a prepaid card can also help to control spending, as only the sums on the card can be spent.
The cards can however be topped up if necessary and can be replaced if they are lost or stolen without funds being affected.
