Yesterday for the 4th time (in 3 years) my business credit card was cancelled by my bank because it had detected unauthorised use.

Kudo’s to the ANZ falcon for spotting the bad transactions and protecting my business by not authorising the transactions.

We only use our credit card with known merchants with SSL.  This means that one of those companies is responsible for the theft of our credit card information.

Identifying which business with the current system is impossible, which leads me to propose a new security measure.

ANZ provide us with ANZ Shield, an APP on my phone which requires me to login (PIN) that then generates a unique code that expires in 60 seconds.

Wouldn’t it be great if VISA and MasterCard incorporated the same level of security with credit card transactions.

Instead of inputting the 3 digit CVV Number (back of card), we generate a unique CODE for each transaction.

Enhanced Credit Card Security

• Identifies each transaction
• Added security
• A repeated code number is then traceable back to the original merchant