Barclaycard To Pilot New Visa Corporate Card
on: May 18, 2009, 5:51 am
has announced its involvement in piloting a new a payment card,
in association with Deloitte and Visa Europe.
well as being a standard Visa
Corporate card, this innovative new card enables Deloitte
employees to remotely access their company IT system via a virtual
private network (VPN). The card has a keypad and LCD screen embedded
into it, to allow users to enter their PIN and generate a one-time
use passcode. This passcode is then authenticated by Deloitte's
VPN. In addition, the card ensures that cardholders have the convenience
of only having to carry their Corporate
Barclaycard without the need to carry a separate security
token or device. The technology that the card uses was developed
in conjunction with EMUE Technologies.
Barclaycard pilot is the first corporate card pilot of the Visa
Credit Card with one-time code functionality in Europe and
is expected to reduce user costs substantially compared to using
a separate token device for remote network access. In addition,
Barclaycard's proven capability will provide improved information
on card usage with up to date transaction statements available
addition to supporting remote network access, The Visa Corporate
Barclaycard features other applications. It is compatible with
Verified by Visa which could prevent card not present (CNP) fraud
and identity theft associated with online banking, telephone authentication
and other remote channels.
leading role in the piloting of this new card was recognised when
it won the 'Best use of innovation within Visa systems or services'
award at the recent Visa Europe Insights event.
award highlighted Barclaycard's commitment to using technology
in an innovative way to bring additional benefits for its customers.
Radley, Managing Director of Barclaycard Commercial, commented:
"This product is an ideal solution for our corporate customers
as it effectively combines two items in one; as well as being
a standard Visa corporate card it incorporates a token which enables
safe and secure virtual private network (VPN) access. We are delighted
to be developing this innovative card with Visa Europe."
Owen, Senior Partner who leads the Information and Technology
Risk practice at Deloitte, said: "The EMUE technology enabled
Visa Corporate Barclaycard offers real benefits for card issuers
based on our own experiences of providing staff with one-time
code functionality for remote access. We estimate that we could
save up to 65% per user over having a separate traditional token
Alzetta, Senior Vice President for Innovation at Visa Europe,
commented: "Innovation is a key factor in Visa Europe's continued
success and growth. We are continually working to make Visa the
most secure and convenient choice for both corporate and consumer
cards. By embedding a battery, PIN pad and LED screen in a payment
card, we believe we are offering the most innovative card product
in the marketplace."
part of Barclays Global and Retail Commercial Banking division,
is a leading global payment business which helps consumers, retailers
and businesses to make and accept payments flexibly, and to access
short-term credit when needed.
company is one of the pioneers of new forms of payments and is
at the forefront of developing viable contactless and mobile payment
schemes for today and cutting edge forms of payment for the future.
It also issues credit and charge cards to corporate customers
and the UK Government. Barclaycard partners with a wide range
of organisations across the globe to offer their customers or
members payment options and credit.
addition to the UK, Barclaycard operates in the United States,
Europe, Africa and the Middle and Far East.
Barclaycard Press Office
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