The rotating three-digit security code on the back changes every hour, making it almost impossible for anyone without the card to use it.
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Posted by Ozzy Man Reviews on Monday, February 8, 2016
Imagine a world without credit card fraud. Impossible, you might say. And you’d probably be right. But any effort to rein it in helps.
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Posted by Ozzy Man Reviews on Wednesday, July 27, 2016
Every time your bank card is cloned or skimmed from an ATM or by scammer, or stolen from a website or a phishing attack, your credit card is wide open for a thief to use until you catch on and cancel it.
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Posted by Ozzy Man Reviews on Wednesday, July 20, 2016
That might shortly be a thing of yesteryear, thanks to one technological progress: A credit card with a security code that is rotating.
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Posted by Ozzy Man Reviews on Monday, March 14, 2016
The credit card, dubbed Motion Code, includes a small show in the reverse of the card across the touch strip which randomly creates the card’s new security code — the card verification value (CVV) — every hour, based on The Memo, which discussed to the business, Oberthur Technologies. This makes the card worthless for any burglar who has the number of the card with no CVV that is new.
The disadvantage for the user is that they are going to need to input the auto-created security code every time a purchase is made by them. Awful news for anyone who is memorized the numbers on their card.
It is only one drawback, however. If a burglar steals your real credit card the card will prevent on-line credit card fraud, but will not help. (My million-dollar idea? Every credit card should come with the owner’s photograph. There, you can have that one for free.)
Two leading French financial institutions, Groupe BPCE and Société Générale, are readying the cards for a broader rollout. Poland has found some successes with the cards in another trial.
A trial may be on the cards with an UK bank shortly, if all goes well.