Visa tries out more secure credit cards in the UK

Let's face it: Credit and debit card security is in need of an overhaul. The current system, which relies on knowing a group of numbers, is too often exploited by individuals who commit fraud by making purchases which don't require a physical card to be present. Due to the limitations of the current system it is difficult to combat this particular kind of fraud. In an attempt to protect cardholders and businesses from these types of scams Visa is testing out a new method of securing credit and debit cards in the UK.

The new cards come equipped with an additional security measure in the form of a one-time password generator embedded into the card. By adding an additional authentication factor into the transaction, Visa hopes to provide another level of security. Under the new system, when a user wants to initiate an online purchase, they would enter their PIN into the card, generating a new one-time password which would in turn be verified by Visa before authorizing the transaction.