12-button Credit Card Embedded Authentication Device

[HardOCP News]

[H] reader Ed C. sent me a link to this authentication device that is embedded on the credit card itself and has a built in keypad and alphanumeric display. Pretty spiffy if you ask me.

The 12-button Credit Card Embedded Authentication Device was developed by eMue Technologies and Innovative Card Technologies as a secure and user-friendly remedy for the persistent problem of electronic bank fraud. In order to guard against the $4 billion financial institutions lose annually to fraud, governments and banks worldwide are now requiring strong authentication for online banking and securities trading.

 

[BillLeeLee]

That is very neat. I can not say anything in too much detail, but I have seen technology to allow a card-type form factor similar to credit cards. The big problem with this kind of technology is that the costs involved are high to manufacture the cards at this time and the ruggedness of the form factor is not on the same level as a hardware keyfob.

However, being able to purchase and perform transaction signing with just one thing you have? That is nifty. I wonder who will be the first to offer it.

 

[Ockie]

Good idea but I don't see it as being a next generation thing, the costs are simply too high to make these, plus you have to deal with the public stupidity calling in becuase they forgot their pin or the pad wont work for whatever reason, and then there is replacement costs.

 

[DanNeely]

I don't think the pin is a major concern, 99% of lusers will just use their ATM pin, or the 1st N digits of their street address/phone number. If this actually is able to make a major dent in fraud costs, a fairly expensive rollout actually could pay for itself. Especially if the initial round only goes to people with really large balances or people in otherwise identifiable high risk groups.

 

[NeoNemesis]

I have enough damn passwords to remember without having to punch one into my credit card, still, its a pretty interesting concept.

 

[Meocene]

Funnily enough what amounts to the exact same technology is currently being roled out to all NatWest customers for free.

All it does is give you a random set of numbers that you to be able to respond to with a similar set of random numbers, but of course you can't do this if you don't know the PIN.

Useful, and impressive that it's free.... hang on.
LOL.
wtf.
This is weird!
I'm dreaming about dreaming about writing in the [H]OCP forums... time to change the channel.

 

[BillLeeLee]

Funnily enough what amounts to the exact same technology is currently being roled out to all NatWest customers for free.
http://theliability.googlepages.com/DSC00006.JPG
All it does is give you a random set of numbers that you to be able to respond to with a similar set of random numbers, but of course you can't do this if you don't know the PIN.
http://theliability.googlepages.com/DSC00007.JPG
Useful, and impressive that it's free.... hang on.
LOL.
wtf.
This is weird!
I'm dreaming about dreaming about writing in the [H]OCP forums... time to change the channel.

That's the big ass pin pad type, those have been around for a while. They seem to be more prevalent over in Europe.

It is not the idea of it that is very new (transaction signing and those card/pin reader thingies have been around for a while), but the fact that they have been able to fit it in such a form factor.

 

[Ockie]

Funnily enough what amounts to the exact same technology is currently being roled out to all NatWest customers for free.

All it does is give you a random set of numbers that you to be able to respond to with a similar set of random numbers, but of course you can't do this if you don't know the PIN.

Useful, and impressive that it's free.... hang on.
LOL.
wtf.
This is weird!
I'm dreaming about dreaming about writing in the [H]OCP forums... time to change the channel.

I like this approach better, as you can perhaps be able to use it on all your cards... so even if your card is lost, it doesn't cost the company that much to replace it.

 

[Meocene]

yeah. I'm a useless bastard when it comes to not loosing stuff.
I'd imagine fines were be incurred for a replacement fancy pants cred card. And the only time you're gonna use such functionality is when you're at home anyways from what i understand.