A new Visa card with a 12-button keypad and battery will help to prevent fraudsters from using card details to commit fraud.
Visa CodeSure still uses PIN and Verified by Visa in transactions, and the keypad will add an extra level of security. Completing a transaction will follow these steps:
- When shopping online or logging in to an online banking service, the cardholder activates the authentication process by pressing the “Verified by Visa” option button on the card’s keypad.
- When prompted, the cardholder inputs their PIN into the keypad embedded in the card.
- A unique one-time-passcode appears on the card’s display, which is then used by the cardholder to authenticate a normal Verified by Visa transaction online.
Preventing fraud with Visa CodeSure
The new Visa card is said to improve security because it will be more difficult for fraudsters to use a person’s card details without physically having the card too.
Pilots for Visa CodeSure included canvassing user opinion and 70% felt they would use their cards for card-not-present transactions more often and 86% were reassured about security with the new card.
Read more about Visa CodeSure on Visa’s website.
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To report a fraud, call Action Fraud on 0300 123 2040 or use our online fraud reporting tool.