Visa signs for Internet commerce security technology

Credit card giant Visa International and Internet security specialist company VeriSign are reportedly set to detail a new digital coding system that will build security into online retailing.

Visa and VeriSign have created a code scrambling system that also lets identities of buyers be verified. Users of the new type of card will transmit a decoder key when they make purchases. The firms claim that the system is far safer than using a cerdit card over the telephone.