Nationwide building society is rolling out more than one
millionchip and Pin card readersto customers
to help secure their online banking.
The readers are based on remote card authentication technology.
The system improves the security of e-banking services for the
consumer in a convenient form factor, said Nationwide.
It said that now UK consumers are frequently using chip and Pin
for retail purchases, using the same process at home is easy to
understand.
With a personal chip and pin reader, Nationwide registered
internet bank users will be able to benefit from the same
convenient security as Nationwide already provides for any
face-to-face transaction.
The Xi-Sign 4000 APACS reader is a portable, unconnected smart
card reader that provides an
extra layer of security for customers, by authenticating both
them and the transaction.
The user inserts their Visa debit card into the card reader,
enters their four-digit Pin number, and enters a reference number
(an eight digit number) provided by the online bank.
The reader then displays an eight digit pass code to be entered
on the bank site to confirm the transaction. This unique code is
only valid for one transaction and cannot be re-used.
Full deployment of these readers direct to the end-users will be
provided by XIRING during this spring.