Lakeland company creates device to prevent credit card hacking - FOX 35 News Orlando

Lakeland company creates device to prevent credit card hacking

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LAKELAND, Fla. (WOFL FOX 35 ORLANDO) -

The makers of a tiny piece of technology believe it could prevent a giant breach in credit card data.

The technology—which would be embedded in your credit or debit card—is being produced at the Solicore facility in Lakeland.

The company and it's subsidiary manufacture the battery and a tiny circuit that can be layered into a credit or debit card to provide enormous security during transactions.

"The one question that everyone says is where do I get it? How do I get one? And hopefully soon that will be easy to do," said Solicore CEO Dave Corey.

He said that interest is especially high since the massive breach of financial information last year at Target and other retailers.

Hackers were able to steal credit and debit card numbers and the passcodes that allow access to your money.     

"It's a nightmare to change all this financial information and monitor your credit report and do all the things to make sure you're protected from fraudsters," Corey said.

Solicore's technology changes pin codes and authentication numbers in an instant before each transaction.

The thin-film battery is attached to the circuit and layered into a credit or debit card.

The holder presses a button on the card to generate a one-time passcode to authorize just one purchase.   

"When you want to make another transaction you press the button again, a unique code comes up you use that between 6 and 8 digit code to replace the static three to four digit code that's used on credit cards today," Corey explained.

He said it is especially useful for online transactions.

Corey said the technology is unhackable, will enhance the microchip technology already used on debit and credit cards in Europe, and is very likely to be available to American card holders.

He said he met with major credit card companies last week.

"They understand what the benefits are and are in the process of adopting the technology," Corey said.

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