Many of the nation's top credit card lenders, retailers and other businesses, as well as consumers, are concerned about the rising tide of fraudulent credit card debt, and now the world's largest payment processor may have a new way to slow this crime.
Visa will soon begin issuing certain types of credit cards with a new redesign that some believe will make them more secure, according to a report from Main Street. The cards will now only present the issuing bank's logo and user's name on the front of the card, flipping the account number, expiration date and Visa logo to the back. However, Visa is reluctant to reveal why the change has been made.
"In an effort to help our financial institutions pursue options to maximize their branding opportunity on Visa cards, while maintaining the authenticity and integrity of the Visa brand, we are evaluating refinements that allow for the alternative placement of account information and security elements through limited market programs," a Visa spokesperson told the news site.
Consumers who have been trying to get out of debt may find it more difficult to do so if they don't spot fraudulent charges early.