Identity in Payment, Banking, Transit, Loyalty, Parking

Upgrade from Visa makes card transactions more secure

Tuesday, June 8, 2010

A new payment card from Visa has recently been made available in Europe. The card, called CodeSure, will be designed specifically for conducting more secure online transactions.

The card’s technology uses a PIN for each transaction to prevent any fraudulent activity. The card features a keypad and eight-character display for showing a one time password for any Visa debit or credit card. The current security measures from MasterCard and Visa still rely on a static password which makes the account more vulnerable to attack.

For businesses the CodeSure card allows organizations to use the card in place of other online log-in systems to securely access private networks and corporate accounts. [end] 

MasterCard introduced a road map focused on advancing the U.S. electronic payments system. The map, which includes the path for migration from magnetic stripe to EMV technology available on chip cards, will serve as the foundation for the next generation of products and services.

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Visa and Imperial Parking Canada Corp. (Impark) are teaming up to offer Visa payWave contactless payments to 72 of its attended parking facilities across Canada.

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The Web Authorization Protocol (OAuth) has submitted OAuth 2.0, a framework for using security identity access tokens for native mobile application and API security, to the Internet Engineering Task Force’s (IETF) Internet Engineering Steering Group (IESG), reports ZDNet.

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Visa Europe has announced that NFC-enabled smart phones from Samsung, LG and Research In Motion have been certified for use with Visa payWave, Visa’s mobile application for payments at the point-of-sale.

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Visa Europe is anticipating a big year for contactless and NFC payments, with issuance projected to leap from 30 million in 2011 to 50 million in 2012.

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