Credit cards could be a lot more secure. And a new product developed jointly by InCard Technologies and eMue Technologies has set out to remedy this problem. They have developed a next-generation credit card that incorporates a 12-button keyboard, a microprocessor and an embedded alphanumeric display that promises to provide unprecedented security in phone and online banking transactions.

credit_card.jpg Appearing in the standard form of a payment card, the Credit Card Embedded Authentication Device has a number of authentication ‘modes’ for use in online, phone, or ATM transactions. For example, you can enter your secret PIN into the card’s keypad to receive a numeric pass code for one-time use. To authorize a banking transaction, the pass code is entered into an interface and instantly validated by an authentication server. This process removes the need to enter a PIN into an unsecured device such as a web browser and provides a more user-friendly defense against electronic banking fraud - a problem that costs financial institutions about $4 billion annually.

The device was recently recognized at InfoSecurity's Tomorrow's Technology Today Awards and picked up the “Judge’s Choice” and “Technical Achievement” Élan Awards presented at ICMA’s Annual Card Manufacturing and Personalization Expo in San Diego.

The Élan awards recognize card design innovation and technical achievement in the card manufacturing industry, and are judged by an independent panel of ICMA associate members, industry notables and international journalists.

The Credit Card Embedded Authentication Device will make its consumer debut at Cartes & IDentification in Paris November 13-15, 2007.