Archive for January, 2012

News from the USA sees a potentially interesting development in the fight against credit card fraud.

Dynamics Inc have produced a credit card, powered by a tiny battery, which produces a different security code every time it is switched on while the number in the magnetic strip also changes. The owner of the card switches it on by entering a PIN code and it then displays a number without which it can’t be used.

The company also says that when the card is “off” the magnetic strip shows the old number rather than the new one, so it can’t be “skimmed” illegally, in a restaurant for example. The card is currently being trialled by Citibank.