Secure credit card reader to be launched to decrease fraud

23/02/2007

There is a different type of card reader to be launched in the UK to decrease credit card fraud, this card reader will help battle fraud to the minimum and put fraudsters in their place. Over time fraud has increased more and more and people are feeling uncomfortable when shopping online.

It is quite simple how these new card readers work, when customers place their card into the reader and follow this by a pin, it will be given a eight digit number for each transaction, this can be inputted online. It will make it difficult for any hacker to get your security information. This eight-digit number can also be forwarded to a live operator, leaving even the operator without your security information and just a eight digit number.

These card readers will be tested with different banks during the third quarter of 2007. banks are happy to see this new development in the credit card system and hope it eliminates credit card fraud to the complete minimum.

As a whole new idea, customers should actually feel much safer when making payments, either online or by phone as they will cut down credit card fraud.