Barclaycard is trialling two new encrypted passwords called 3D-SET and 3D-PA.

Under the trial system, Barclaycard provides holders of credit cards with a secure “virtual wallet” into which they enter their personal details.

Barclaycard then provide a password for use when making online purchases.

When a transaction is ready to be made on a website, a small window appears into which the customer inserts their password as proof of identity.

Someone who provides an incorrect password will invalidate the purchase ensuring that stolen counterfeit cards cannot be used on the site supporting the service.

Jennifer Allerton, Barclaycard technology director, said: “Research shows that 34% of consumers cite ‘lack of security' for their decision not to buy online. People have a misguided perception of the extent of internet fraud.

“Ninety per cent of all internet transactions are made with credit cards.”


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