Yet another fraud prevention innovation is hitting the credit card industry. Recently, SmartMetric Inc, which is a company that specializes in manufacturing and marketing identity cards that are tamper proof, introduced the first credit card protected by a fingerprint. The card has a built-in fingerprint reader that makes it impossible for anyone but the owner to use
In order to accomplish this, the identity of the online buyer is stored inside of the card through encryption. This includes the credit card number, billing and shipping address, and more. When the credit card holder wishes to make a purchase online, he or she touches the fingerprint sensor located on the credit card and the information is sent securely over the Internet and to the merchant’s site.
After the encrypted credit card information reaches a site that it recognizes as being trusted, the information is de-encrypted and the personal information forms on the site are completed automatically. According to the company, this helps make the process safer for the card holder in part because thieves cannot steal the information as it is being typed into the fields on the site’s forms. In addition, this is safer than having the information simply stored on a remote central computer that is susceptible to hacking.
SmartMetric will be offering this new technology to consumers for less than $70. To learn more, visit http://www.smartmetric.com/
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