New direction in online security as users are given card-reading devices. Barclaycard plans to issue 10,000 cardholders with a portable card-reading device for authenticating internet-based purchases next year as part of a six-month trial. When making online purchases, customers will insert cards into a calculator-like device and enter a PIN, which will generate a single-use eight-digit code that is entered online to verify the transaction. ‘It’s not a technology trial to see if this device works or not, it’s a trial to determine whether or not customers will be willing to use it,’ said Barclaycard technology consultant Dave Taylor. The trial, which starts in February, will involve customers who currently shop online and hold a chip-based MasterCard credit or debit card, although Taylor says there’s nothing to stop the technology being used on Visa cards as well. Full Story
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