News
Visa
CodeSure reinforces position as most technically advanced
commercial payment display card at CARTES & IDentification 2010
with addition of
contactless
CARTES and IDentification, Paris-Nord Villepinte Exhibition
Center
7th – 9th December 2010
Find Visa at stand: Hall 4, number 4J022
London and Paris – 7 December 2010
– Visa Europe, Europe’s leading payment system and
its technology partner, Emue Technologies have announced the
commercial availability of a contactless payments-enabled version
of its Visa CodeSure integrated card and authentication solution.
In addition Visa Europe highlights key product features that
provide members a complete authentication and payment solution.
The addition of contactless payment
technology to the card, which also uses an embedded PIN pad to
generate a one-time-use authentication passcode for
card-not-present transactions, brings both security and convenience
to consumers. Enabled for use in thousands of European retail
outlets that accept contactless payments, customers will simply
touch their card on a wireless reader to pay for low value everyday
items at point-of-sale without the need to enter a PIN*.
Visa CodeSure enables banks to move beyond
two-factor authentication to a comprehensive multi-channel solution
that ensures their customers are protected in card-not-present
transactions, including e-commerce, telephone and Internet banking.
Usability is also a key feature as the card has a secure 8-digit
alphanumeric display which provides intuitive messages to customers
during the authentication process, and a twelve button keypad which
enables access to up to ten different authentication modes.
The Visa CodeSure card has gained market
acceptance very quickly, with the world’s first commercial launch
announced by Cornèr Bank (Switzerland) in November 2010. Prior to
this, trials were undertaken with a broad range of participants
including BarclayCard, Yapi Kredi (Turkey), IW Bank (Italy) CAL
Bank (Israel) and DKB (Germany).
Sandra Alzetta, Head of Innovation at Visa
Europe said: “Visa CodeSure is proving to be a very exciting
technology for the banking industry. With authentication of
consumers being one of the key strategic opportunities, adding
contactless payments functionality to the Visa CodeSure card brings
flexibility and convenience for low value payments to an innovative
card-not-present authentication system.”
Brendan McKeegan, CEO at Emue Technologies
said: “We have worked with Visa Europe across multiple pilots to
understand the factors that will enhance the customer experience
with Visa CodeSure. Enabling contactless payments as an additional
service for the cards was pinpointed as a pertinent enhancement
through this process and adding the functionality as an option for
the device offers yet more value to issuing banks and their
customers.”
Visa CodeSure utilises Emue’s unique Mutual
Authentication technology. This enables a cardholder to feel
reassured they are dealing with their genuine bank through a
one-time “authenticating challenge” code. Only the correct
challenge code will be verified by the cardholder, in turn enabling
them to enter their PIN into the card and provide a one-time
passcode to the bank. This means both parties are securely
identified. The use of this functionality will be effective in the
fight against online fraud and phishing, as well as telephone based
social engineering which is of concern to the
industry.
The Visa CodeSure card incorporates
additional technological advances that include Transaction Signing
e.g. being able to securely ‘Sign’ the value of an online banking
transfer from one party to another with the Beneficiary account
details and/or the value of the transaction and the ability to hold
credentials that enable the cardholder to authenticate their
identity to more than one service provider, such as a bank and a
government service or corporate network. Importantly, the
cardholder’s PIN is not stored on the card, which removes the risk
of it being obtained by a fraudster stealing a customer's card,
while at the same time enhancing flexibility for changing and
managing
PINs.