KEY WEST, Fla. – A consortium of credit unions is building a new payment card they say will be more secure than any card on the market and at the same time will be usable for any card brand.
Dubbed the “Excalibur” card, it uses a biometric thumb print to ensure the identity of the user. The card also allows users to create passwords for single uses or to change PVC codes.
The program, which still is in the prototype stages, has the financial backing of IBM and was developed by Mark Cox, a long-time member of Keystone FCU, in West Chester, Penn., which is participating in the project.
About a half dozen Pennsylvania credit unions represented at the Pennsylvania CU Association’s annual CEO Summit are participating in the project, as well as Members Gateway, the credit union incubator. A pilot among the participating credit unions is expected on the card by year end.
