GEC NEWS WIREGemalto’s Dynamic Code Verification solution provides banks with complete flexibility to meet individual customer preferences
Gemalto has launched the Dynamic Code Verification, a comprehensive payment security solution that protects against Card-Not-Present (CNP) fraud on-line and ensures an easy user-experience cardholders have come to expect. This complete dynamic CVV/CVC solution includes an EMV payment display card that secures traditional in-store and eCommerce payments, ATM withdrawals, a mobile version, a validation server and associated services. The mobile offer is unique to Gemalto, supporting the digital vision of banks with mobile at the forefront of their business strategies.
The solution allows issuers to replace the static 3-digit visual cryptogram traditionally used for online purchases with a time based dynamic CVV/CVC displayed on the customer’s payment card or on their mobile. The code changes every 20 minutes, dramatically enhancing the security level of online transactions.
Gemalto is the only company able to provide a fully integrated solution banks can implement easily, either in the physical card or mobile version, and with minimal cardholder education required. The enhanced security level reduces costs associated with CNP fraud management and delivers higher customer retention.
“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 Håkan Nordfjell, Senior Vice President of eBanking and eCommerce at Gemalto.
