August 24, 2016
Gemalto Unveils Dynamic CVV/CVC Solution
Oct. 19, 2015
Dutch digital security technology provider Gemalto launched a dynamic CVV/CVC solution it said will protect consumers and merchants from card-not-present fraud. The CVV/CVC is usually a static three-digit number on the back of traditional credit cards. Gemalto is now manufacturing cards that contain a display in which the three-digit CVV/CVC changes periodically so if a consumer’s payment card information is illegally accessed, the CVV/CVC number will have changed and will not coincide with the stolen information, making it much more difficult to monetize stolen PII. The company said it can deliver the information to a mobile device as well.
“Gemalto’s Dynamic Code Verification solution provides banks with complete flexibility to meet individual customer preferences—card or mobile—and refine their customer segmentation model while maximizing reach,” said Hakan Nordfjell, senior vice president of eBanking and eCommerce at Gemalto. “Gemalto is unique in being able to offer banks a complete CNP security solution, further supported by an extended portfolio of services.”