Verisign Using Disposable Passwords On Credit Cards!
Finally we get word on something that many have been waiting for, Verisign the leading provider of digital-security services wants to make disposable passwords easier for consumers to accept by squeezing the technology into the corner of a regular credit or ATM card.
The company is expected to announce a deal with Innovative Card Technologies to equip banks and e-commerce sites with cards that work with VeriSign’s password system.
“With the card, consumers logging on to an online bank account, for instance, would type in their regular username and password, along with a six-digit code that appears on the card’s display window. That code constantly changes, meaning the customer needs to have possession of the card to access the account.
…Banks and merchants participating in VeriSign’s password network can share codes, so consumers wouldn’t have to carry multiple cards and devices or even one of each. “
Verisign said it expects to announce a major bank using its cards in May, and those would be compatible with services currently using devices. The company already has agreements with eBay, PayPal, Yahoo and Charles Schwab to issue the password-generating devices.
Explained More at Yahoo News.
May 20th, 2007 at 1:07 pm
While it would be secure it would be a real hassle, my wife had one with her old laptop, one more piece of kit to carry around. There is a much better way, banking in Germany (now in spain) every transaction requires a TAN code or Transaction Authorization Number @ 4-6 digit number that is tied to your bank account. When you open an online account youir issued 100 TAN codes Without that number you can’t do any online banking. very simple and very effective, even if you had my online passwords you couldn’t do anything unless you had the TAN codes to go with it.