Australian small
Deloitte-backed
technology firm called
EMUE Technologies assures
it has found a
weapon against
online fraud. It
presents smart battery-powered
credit card that can stop up to $ 1
billion a year.
An alpha-numeric display, built-in microprocessor, a keypad and three years of battery power are included n that card. The truth is that EMUE’s technology doesn’t allow hackers to make any online transaction because the security code is different each time. When user enters a PIN into the card the display shows a one-time number with which each online credit card transaction can be authenticated.
Even though smart battery-powered card is five-times more expensive than regular credit card (it is planned to be sold to bank customers for $ US 18 and $ US30 each) the cost is worthwhile.
According to Bureau of Statistics, 383, 300 Australians lost an average of $ 1600 to credit card fraud last year. And the real statistics figure was much higher.
The world banks are looking forward to use new technology because no matter how secure their systems are, they can?t do much to prevent customers from losing their credit card details.
And the new technology is a real help against credit card fraud. It was developed over 2 ½ years by EMUE Technologies based in Adelaide and Melbourne.
As EMUE’s chief executive, Brendan McKeegan noted the trials of new smart supercard will begin with an Australian bank in the first quarter of next year.
