Debit card readers for Barclays customers

Debit card readers will be given to as many as 500,000 Barclays current account holders who turn to internet banking when moving cash to others. The PINsentry devices are akin to a small calculator in design and the UK bank says the move means people looking to move cash from their account to another individual will need to contend with an additional layer of security.

The debit card is inserted in the card reader, with the transaction authorised via their Pin number. The move will eradicate the need for passwords and have a major impact on the authorisation of online transactions. The technology is geared to reducing online fraud, as it makes sure the individual transferring the cash is in possession of the card for the account in question and knows the Pin.