News

Secure online debit card launched

Nick Huber
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.

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