Developed in partnership with Visa, ICICI Bank Carbon is Asia's first credit card powered by Visa CodeSure, which along with EMV chip technology, makes the card one of the safest for any usage, especially for online shopping.
ICICI Bank Carbon brings unparalleled safety for online transactions through cutting edge technology, enabling card members to instantly generate a highly secure dynamic passcode on the card.
The card plastic incorporates an alpha-numeric LCD screen, a 12-button touch keypad and an in-built battery to generate dynamic one time passcodes.
In order to use this card, the card member initially needs to generate a CodeSure PIN on the ICICI Bank website prior to using the card.
This is a one-time activity. Using this CodeSure PIN, the card member can instantly generate a one-time-passcode (OTP) on the card plastic itself. The display panel on the back of the card then shows this OTP which can be used to authenticate online transactions.
This means that the card is secure, even if somebody has fraudulently accessed the card number, as no online transactions can be carried out without the CodeSure PIN and OTP.
Also, even if the customer loses the physical card, it cannot be used for online transaction without the CodeSure PIN which is exclusive to the customer.
Speaking on the occasion, Rajiv Sabharwal, Executive Director, ICICI Bank said, "The ICICI Bank Carbon, powered by Visa CodeSure, is another step in this direction. We are happy to launch this card in association with Visa, for the first time in Asia and I am sure that this will be as popular in India as it is in some of the European countries.
"This card will be one of the safest available for online and standard use and also comes with an EMV chip for added security against counterfeiting."
Announcing this launch, Uttam Nayak, Group Country Manager, India and South Asia, Visa, said,"This is a crucial step towards further securing electronic/card-not-present transactions. Visa and ICICI Bank have partnered in the past to ensure safety in the online payments space.
"With the growing appetite of banks and customers for innovative technology in payments, and Visa's commitment to developing new technologies, Visa CodeSure offers the next level of security and convenience by offering a dynamic passcode through an integrated screen on the card."
--IBNS (Posted on 13-09-2013)