An article on how the New Year will see a change in the way we pay for our goods reports on new developments such as buying through mobile phones and online shopping, which have increased apace during the last couple of years. Another development is quick response (QR) codes, which allow a consumer to scan a barcode with their camera, which then directs them to a voucher or special offer.
In amongst all the new developments aimed at consumers and their shopping experience, card-not-present fraud is identified as a live, current issue and new developments can help in this area too.
One such modification will make it possible for someone to process a transaction by checking a credit card through a webcam or a mobile camera, so it would, in effect be a card-present transaction, and works by using secure video streaming to identify and then approve the information on the credit card.
The customer would hold their card up to the camera, wait for it to initialise and then enter their card s security number to complete the purchase. It is in its early stages of development now, but will certainly take off in the coming months and should provide some reassurance to those who are concerned about providing their card details online.