Visa cards get smart

Visa has launched the next generation of smart credit cards - cards that can facilitate secure online payments and a host of other applications

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By  Mark Sutton Published  September 16, 2000

Visa has launched its next generation payment card, ‘smart Visa’ in the USA. The card combines a traditional payment card with a smart chip to provide added security and others functions to the customer.

The payment platform will be an open platform to allow collaboration between developers and member banks to encourage the development of online services, both static and mobile.

Used in conjunction with a smart card reader connected to a PC, users will be able to make secure online payments and to upgrade the card without having to get a new physical card. Vendor’s will also be able to use information on the card to identify the user and to offer personalised services.

Al Banisch, senior vice president of consumer credit products for VISA USA said: “Over the past five years, the evolution of the Internet and impact of e-commerce has generated an increased demand for payment products offering enhanced technology and applications. smart Visa delivers tremendous benefits to cardholders, providing greater security in tandem with financial information, more efficient online commerce, and highly personalised benefits and services to simplify their lives.”

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