Improving Payment Card Security: The Dynamic CVC Option

Fintoism Dynamic CVC Payment Card

Payment cards are very popular in most countries. Despite their convenience, they tend to lack crucial security features. The introduction of a dynamic CVC code may offer a viable solution.

The Current Payment Card Issue

Every payment card has a unique CVC code on the back. That code is three digits in length. Brute-forcing such a code through a software algorithm is not overly difficult. 

Once the CVC code is known to someone obtaining payment card details illegally, they can use it as if it was their own card. 

Several years ago, this code was an extra security measure. Particularly for online shopping, it helped determine if the real card owner was making a purchase. Virtually all online shopping platforms require this code today. 

Unfortunately, that information is also stored in their databases. If a database is compromised, so is this extra “security layer”. 

Data breaches have become very common in the previous decade. New solutions need to be found to protect payment card owners. 

A Dynamic CVC Code Solution

One way to counter this issue is by removing the static CVC code. On paper, it is easy to do so. The concept of a dynamic CVC code was floated several years ago. It hasn’t been actively used on a large scale to this date. 

The dynamic code would change every few hours. For consumers, this introduces extra security. At the same time, it is also slightly inconvenient. Consumers need to look up the new code every time they make a purchase. 

How often the CVC code needs to change, is up for debate. Doing so every few hours is one option, albeit not the safest. Generating a new code after every purchase would be more ideal. Ensuring that can happen – and actually works – is a different matter, however. 

The Motion Code Card

It appears that this technology will finally be put to the test. Earlier trials were conducted by BNP Paribas, BPCE, and SocGen. None of those institutions have indicated they will continue the dynamic CVC code approach.

Deutsche Bank and Mastercard will give this concept a shot. The Motion Card will be available to bank customers in Spain. Locally, the product will be known as Tarjeta Calma. Idemia will provide the Motion Code technology.

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