SOUTH BEND, Ind. — With the aim of literally stopping fraud in its tracks, XCard Holdings, LLC is prepping to pilot its new XCalibur card with a handful of credit unions.

Also referred to as the XCard, the card is being engineered and developed with the assistance of IBM Global Engineering Solutions and will be implemented through XCards Systems, LLC, a CUSO co-owned by credit unions that will oversee the pilot. Member Gateways, LLC, a new product incubator, is also working closely with the pilot.

The XCard will function as a "biometrically secured vault" for financial and personal data, according to the CUSO. It has the same dimension and feel as a regular plastic card. The owner will have the ability to store multiple credit, debit, gift, loyalty and smart cards within the device. Various levels of security and information stored within the card may be reached by using separate biometric authentications, which is supposed to eliminate the need of remembering passwords or personal identification numbers.