NASC to roll cards with LCD display
NagraID Arrow Secure Card (NASC) is to introduce credit and debit cards equipped with a LCD display to show a one-time password (OTP) for secure online transactions.
Neeraj Malhotra, VP, NASC said, "The OTP will be displayed by the card for online transactions. Such cards are equipped with a high contrast, ultra-fast LCD flexible display that enables scrolling of characters. The password is generated as and when customers want to carry out a transaction by pressing a button on the credit card or the debit card. Each time one has to do a transaction, a unique password is provided. It is a more secure way of making online payments and reducing card-related fraud. NagraID Arrow is in talks with various private and public sector banks for the introduction of credit and debit cards equipped with this technology."
The technology used for generation of passwords is linked to the server of the bank and is authenticated within a minute.
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