Chip-and-Pin readers to secure e-payment


Chip-and-Pin readers to secure e-payment

Nick Huber

UK consumers could soon be using chip-and-Pin cards and card readers to make online payments more secure under an option being investigated by UK banks.

Card-holders would slot their chip-enabled cards into a small card reader and type in their Pin using the keypad on the device.

The reader would generate a unique number for the card-holder to enter onto the website to verify that they are the valid card-holder. Card readers could also be slotted into PCs.

The card readers would offer an extra level of security for internet banking, in addition to passwords and follow-up questions to verify the card-holder's identity, said Dick Clark, of Consult Hyperion, an IT consultancy which has developed a technical standard for authenticating card reader payments for banking association Apacs.

In the long term, card readers could be used for a wide variety of payments although any services will have to wait until 2005 when the UK's £1.1bn chip-and-Pin project is rolled out nationwide. 

Planning for chip and Pin >>

Related Topics: IT strategy, VIEW ALL TOPICS

Email Alerts

Register now to receive IT-related news, guides and more, delivered to your inbox.
By submitting your personal information, you agree to receive emails regarding relevant products and special offers from TechTarget and its partners. You also agree that your personal information may be transferred and processed in the United States, and that you have read and agree to the Terms of Use and the Privacy Policy.

COMMENTS powered by Disqus  //  Commenting policy