Credit Cards – Card Revealed With Own Pin Pad

Leading credit card company Visa have unveiled a new credit card that they will be testing out in various locations over the next few months. The new card is a lot more high tech than the ones we are used to at the moment as it has its own Pin pad integrated into it. The credit cards will be trialled in a few banks in different locations in order to see how it works and whether or not it will catch on with people. The locations to get the cards are; Cal in Israel, Corner Bank in Switzerland, IW Bank in Italy and MBNA in the UK. The PIN pad will consist of a 12-button keypad and an LCD display that will be powered by a battery which is reported to last up to four years according to the company. The card works by the customer typing in their PIN into the keypad which will then mean that a one-time code will show up on the screen. The customer can then use this code to authenticate online purchases. The main purpose of the card is to stop fraudsters by introducing the need for the PIN and a one-off code that whenever a card-not-present transaction is made. Visa has said that the interest they have had from companies towards the product has been overwhelming. This could be due to the fact that many more people are finding credit cards beneficial to them, be them bog standard cards or interest free credit cards, many more people are starting to use them. Visa have also said that they are looking into producing contact-less payment cards and near-field communication (NFC) mobile devices to develop in the future. The NFC idea also seems to be pretty cemented in the company's future as they already have an agreement with the leading mobile carrier O2 and with the SIM card manufacturer Gieseche & Devrient.

Visa's new credit cards will be trialled at a few different banks located in various locations. Many people are taking out credit cards, be it interest free credit cards or just an average card as they are finding that they can be very beneficial for them. Visa has said that they are also looking into producing contact-less payment cards in the future amongst other developing technologies.