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Article: Visa revives holomagnetic stripe for security. (Visa Travel Money card)
- Article from:
- American Banker
- Article date:
- December 30, 1994
- Author:
CopyrightCOPYRIGHT 1994 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The unveiling of the Visa Travel Money card in early December gave new life to a security technique that many card industry observers had assumed was dead and buried.
The security method, called holomagnetics, had even been rejected by Visa International, which decided instead to put its antifraud resources into cards with computer chips in them -- the socalled smart cards.
On the Travel Money card, which allows customers to draw funds at any Visa automated teller machine from a prepaid account, the holomagnetic technology stands out as an eye-catching version of the familiar magnetic stripe on credit and debit cards.
Visa officials conceded that the colorful ...