This is an article published in the Times of India on 13/11/2008. The article says that a new credit card, which is battery powered has been designed by an Australian firm, EMUE to prevent online fraud. The details are as follows.
The card, which includes an alpha-numeric display, built-in microprocessor, a key pad and three years of battery power, will display a one-time number with which to authenticate each on-line credit card transaction, whenever the user will enter the PIN number. The company authorities hope that this will prevent the $1 billion credit card fraud a year.
The trial of this card would begin with an Australian bank in the first quarter of next year.
The card, which includes an alpha-numeric display, built-in microprocessor, a key pad and three years of battery power, will display a one-time number with which to authenticate each on-line credit card transaction, whenever the user will enter the PIN number. The company authorities hope that this will prevent the $1 billion credit card fraud a year.
The trial of this card would begin with an Australian bank in the first quarter of next year.
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