Chip Shield, a US-based provider of solutions for secure online payments and identity, has unveiled a new consumer focused personal chip card reader to prevent online fraud.
The new offering, which connects to desktop computers over USB and mobile devices over the audio connector, will be available in summer of 2016 with an introductory price of $20.
The device has been designed to provide enhanced security for any e-commerce or banking site, and works with any credit or debit chip card and with the Chip Shield Web Assistant.
The Chip Shield Web Assistant eliminates all manual data entry and safely injects payment data into merchant websites, which helps protect customers from computer viruses that track keyboard input and accelerates the check-out process.
The company added that the device will use encryption technology built in to chip enabled card to generate unique private key signatures that will unlock online accounts and personal data while the card is in use.
Chip Shield founder and CEO David Marsyla said: "We’ve all been getting these new chip cards from our banks to help with fraud in stores, but when we go online, we type in the same old 16-digit card number or use logins and passwords that can be easily stolen by viruses and phishing attacks.
"It’s time to start extending chip based security to protect us online and reverse the rapid growth of fraud and identity theft."