Colombia. Idemia has just announced that Motion Code™ cryptograms can be deployed faster. This means for banks a drastic reduction in the launch time, so that they can already start offering consumers this unique payment solution.
Based on Visa's dCVV2 specification, Motion Code™ will be ideal for issuers to get started with a dynamic payment card by eliminating the need for system updates. It will facilitate the implementation of payment cards with Idemia's Motion Code™ to ensure card-not-present (CNP) payments such as online transactions.
Motion Code™ adds a new layer of security to online transactions. It reduces fraud during CNP payments and is no inconvenience to the cardholder or retail merchant. The printed fixed code (CVV2) is replaced by a mini-screen that displays a code that is automatically updated, generated by an algorithm (dynamic CVV2). It significantly reduces the value of stolen codes, as the issuing institution can identify old codes and reject the transaction.
Motion Code™ is already used by cardholders in Europe and Asia. Now, card-issuing institutions in most regions of the world will be able to quickly implement Motion Code™.
Leave your comment