Dynamic Card Security Codes a.k.a. Dynamic CVV/CVC
SurePassID now offers a new solution to eliminate credit card fraud for eCommerce and Mobile payments. Dynamic Card Security Codes (CSC), replace the printed 3-digit code on the backs of plain, old plastic credit cards, also known as CVV/CVC codes, with a dynamic code that changes every x minutes (issuer definable). This technology has been around since 1996 and commercially available in 2008 but credit card issuers and financial institutions did not feel enough fraud pain to adopt the dynamic card security code.
Card-Not-Present Fraud On The Rise
Now, since EMV chip cards eliminate most card fraud in brick-and-mortar stores, fraudsters are migrating to softer targets, specifically online and mobile transactions, where card-not-present (CNP) fraud rates have spiked over the past 24 months.
It’s time for the card issuers and banks to embrace the Dynamic Card Security Code and offer it to their customers. Banks who want to gain new customers and be known for innovation and the most secure credit card on the planet would be wise to adopt the Dynamic Card Security Code and offer it to their customers with great enthusiasm.
SurePassID Dynamic Card Security Code Solution
SurePassID offers a complete Dynamic Card Security Code solution including the SurePassID DCSC Authentication Service, the Dynamic CSC Mobile app and/or the Dynamic CSC Payment card (pic below). The SurePassID Auth server can be deployed to work with 3DSecure or any Access Control Server the issuer may have.
If you are interested on how Dynamic Card Security Codes can help your business taker a look at these:
For more technical information, check out the Dynamic Card Security Code datasheet.
For more information or to arrange a demonstration, sign up for a free trial sandbox account and take Dynamic Security Codes for a test drive.