Internet bank Cahoot has launched a ground-breaking virtual card to
offer secure online transactions for debit card users.
The Cahoot Webcard generates a unique disposable number for each
transaction to minimise the risk of card fraud. The joint credit
and debit card can be used at any site that accepts Visa.
While other card providers have launched similar technology for
credit cards, Cahoot claims to be the first to offer secure online
transactions for debit cards.
After verifying their identity with Cahoot, customers download the
payment software onto their computer. A 16-digit Visa number,
separate to the customer's card number, is generated for each
transaction.
Even if a hacker manages to get hold of the number it is worthless
because it cannot be used again.
