The Latin American card manufacturer Inteligensa Group is offering its customers payment cards from Innovative Card Technologies Inc. of Los Angeles with built-in, one-time password systems.
InCard, which announced the deal last week, produces a password device that is slim enough to fit within a payment card. A display in one corner shows eight digits that change when another part of the card is squeezed. Consumers must enter the password to log in to a bank's Web site.
The security feature "is an elegant solution to the global problem of online banking fraud, which is especially prevalent in Latin America," John A. Ward 3rd, InCard's chairman and chief executive, said in a press release.
Inteligensa has offices in Brazil, Mexico, Colombia, and Venezuela. It says it provides 180 million bank cards a year, or about 35% of all bank cards in South and Central America.