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Credit Card Applications » News » Other » Stopping Credit Card Fraud with this Innovative Device

Stopping Credit Card Fraud with this Innovative Device

January 04, 2010 | Updated on January 04, 2010
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The content is accurate at the time of publication and is subject to change.

Shopping online is already starting to look mainstream, but still many people feel uneasy doing their shopping over the Internet and disclosing highly classified information to sites. Some are worried that their credit information will be accessed by hackers, which they could then use to make unauthorized purchases.

A new product out in the market promises to take the worry off cyber shoppers' shoulders. Called the SmartSwipe reader, this device is both eye-catching and easy to operate. It promises to keep classified information away from hackers and ensure worry free transactions each time.

In traditional retail venues like malls, people just swipe their credit cards into reading devices whenever they are purchasing something. However, when paying online, card users have to supply information such as pin numbers and codes.

SmartSwipe card reader, a Canadian invention makes online shopping experience as easy as shopping in retail outlets - just swipe and go. What distinguishes it from other card readers is that it is able to reconfigure credit card codes to protect users from credit card hackers.

Upon swiping a credit card in the SmartSwipe credit card reader, credit card information would be reorganized before it reaches the computer and accurate credit card information would remain undetected.

This way, hackers would not be able to unlock important credit card information since it would not show up on one's computer. Not until the credit card information reaches the merchant will the actual credit card code series will be revealed. Thus, in transit, one's credit card information will just show a bunch of random numbers - hardly of any use to hackers.

Industry experts are trying to discern if this type of technology is really necessary and useful.

Molly Wood, a C/NET technology expert, agrees to the fact that SmartSwipe is a highly advanced device, but stops short in believing that this type of technology is necessary for home use. She looks at the device as providing really excellent security, but most people she believes hardly has any use for gadgets of this calibre.

She recommends that the more practical way to protect one's computer from spyware and hackers is for people to regularly update their security software.

In addition, hackers normally target massive databases of big businesses like banks and retailers - not people shopping online. Hence, what is paramount really is the integrity and security measures of agencies that store credit card information.

The SmartSwipe credit card reader, which is made by a Canadian company, has not yet hit US retail stores, but is available online for $90.

Disclaimer: This editorial content is not provided or commissioned by the credit card issuer(s). Opinions expressed here are the author's alone, not those of the credit card issuer(s), and have not been reviewed, approved or otherwise endorsed by the credit card issuer(s). Reasonable efforts are made to present accurate information, however all information is presented without warranty. Consult a card's issuing bank for the terms & conditions.
All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.
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