Consultancy firm Deloitte is involved in the testing of a new type of corporate credit card, which doubles as a two-factor authentication device for remote network access.
The Visa Corporate Barclaycard, which is being given to 500 Deloitte staff as part of a pilot programme, has a built-in LCD screen and keypad that generates a one-time passcode and allows users to enter their PIN.
Once the passcode has been authenticated by Deloitte's virtual private network, the user will be able to gain access to the IT system.
The three-month pilot is the first of its kind in Europe, according to Deloitte, and could reduce the cost of users carrying a separate authentication device for remote network access, as well as improving usability.
The technology for the card was provided by Emue, an authentication firm specialising in the financial services market. It could be implemented by other credit card companies if successful.
Stephen Ley, head of Deloitte UK's payments team, said the new card would help boost security and convenience and reduce costs for the company.
"It's a lot easier than carrying around a separate card which people can also lose," he explained. "And the cost savings compared to issuing a separate token are significant. If the pilot goes successfully we'd use it and we'd hope Barclaycard would take it to other customers."
He added that Visa is already in talks with several banks to roll out similar schemes to other customers.
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