Oberthur Technologies launched the first payment card integrating dynamic Card Verification Value/Code (dCVV/dCVC) technology from NagraID Security (NIDS) in order to secure online transactions.
Go deeper with GlobalData
NIDS is the display card specialist acquired by Oberthur Technologies last month.
The CVV/CVC or security code is a three or four-digit code usually printed on the back of a payment card, next to the signature panel. It is used as an additional security element to secure an online transaction to ensure that the cardholder is actually in possession of the card.
With the new product, the static printed code is replaced by a mini-screen that displays a code that is automatically refreshed according to an algorithm loaded in a chip embedded in the plastic.
The code can be periodically refreshed. The refresh timing is defined by the card issuer, for instance each hour. As a result, if stolen, the card information including this dCVV/dCVC immediately loses any value for fraudsters.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataThe new product is also fully transparent for e-merchants. They do not have to modify their payment page on their website adding more buttons or managing special complicated connectivities: the dCVV/dCVC entered by cardholders is seen by the payment page as a standard CVV/CVC security code in a regular online card transaction.
For issuers (or their processors), a specific server synchronized with the algorithm and refreshing rules defined in the cards will be needed, and is part of Oberthur Technologies offering together with consulting services enabling to find the most efficient approach for a quick time-to-market.
Oberthur Technologies said that the limited samples are already available and customer pilots will start in the fourth quarter of 2014. Commercial shipments will begin in the first half of 2015.
