Dynamic Credit Card changes security codes after every purchase

A prototype credit card, developed by Dynamic Inc. and demoed at CES 2012, is a better way to keep credit card fraudsters at bay. The advanced credit card technology changes the unique dynamic security code of the card after every in-store purchase. It can put an end for all sorts of credit card fraud. Robbers won’t be able to crack any credit card details, because it automatically changes the code after every single use.

Credit card from Dynamics Inc

Stealing of credit card code is a common form of robbery today. Fraudsters just need a pen and paper or a portable card reader to crack the credit card information of users. Advanced fraudsters even break into the merchant servers to steal the credit card data electronically stored there. It is here Dynamic Credit Card security becomes noteworthy.

Picture Gallery

Credit card is virtually theft proof

Credit card is virtually theft proof

The new credit card, though identical in form to the traditional one, comes with lots of modifications. It is powered by a tiny battery, which will last for three years. The main advantage, of course, is that it can generate different security codes each time it is turned on. Well, here credit card becomes a kind of electric device, which produces different security codes for every purchase, thus making it ultra secure against fraudsters.

Of course, as the data stored in the magnetic strip changes, no one can clone the credit card now. It can also be fixed with a small display to show the unique security code for users to make purchases. Currently, this card is put under trial by Citibank, says Dynamic at CES. It is not clear whether Citibank will accept the credit card to be distributed among its customers.

The card will also boost security for online shopping. Online buyers can simply enter a PIN to switch on the credit card, which produces a fresh code. You can make the purchase typing the new code in the vendor’s site. Yes, there is no security risk involved in the transaction.

The battery inside the card can power it for three years. But concerns have risen on the lifespan of the cards with built-in battery. Some analysts think the card may be spoiled in extreme temperatures as it integrates battery. However, the card will secure your money up. Even if you drop the card in a restaurant, there will be nothing to get worried about. As the card is switched off, robbers won’t be able to skim it. See what Dynamic has said of the credit card at CES 2012,

The credit card automatically writes a new, unique dynamic security code onto its magnetic strip for every purchase. A display can also be added to the card - thus replacing the three or four digit security code physically printed on traditional cards.

Via: ArsTechnica