Visa has introduced a new bank card which has been designed to improve the security of online transactions.
With online fraud on the rise, the group hopes the Visa CodeSecure system will make online shopping considerably safer.
The card itself - which is no bigger than a regular debit or
credit card - features a keypad and screen, which is linked to improved user verification software.
At the point sale, the card will generate a unique code to be submitted by the online user in order to authenticate the transaction and ensure a safeguarded payment.
However, the card will not generate a code until a PIN has been entered via the integrated keypad, which Visa claims will substantially improve security.
Sandra Alzetta, head of innovation at Visa Europe said: "This exclusive Visa solution is an extremely convenient way to bring a similar level of security to payments online as we now enjoy in the High Street with chip and PIN."
According to recent figures,
online banking losses had risen by £59.7 million at the end of last year, a 14 per cent increase when compared to the same period in 2008.
