According to BCE statistics, 70% of total frauds on payments cards are due to CNP transactions, that’s to say Card Not Present Payments. This can be overcome adopting new and better performing cards with dynamic CVV for Secure On-Line Payments.
The IRETH product portfolio includes D800 EMV with Dynamic CVV, innovative Displaycards ensuring high level of security for on-line Payments, with low impact.
The Card Validation Code CVV is made of 3 digits displayed on the back of the card and changes steadily, so it is valid just for a limited period of time. The Dynamic CVV makes the card useless to anyone who has got the credit card number, the expiration date and the name of the owner (static data, subject to theft and frauds).
Card Issue: for Card Issuers, it is necessary to have the DSC (Dynamic Security Code) Validation Server, synchronized with the algorithm present on the card, generating the dynamic code.
On-line store: on-line stores don’t need any changes on their web sites: the crypto dynamic code that is generated by the card is used exactly like the standard one and must be insert on the payment page of web sites, without further buttons or pop-up windows.
Cardholder: the approach for cardholder is completely transparent:
No need to download of any plug-in on the browser
No need to access further payment page or pop-up windows because the user interface is the same as standard on-line payments. The cardholder, in fact, can manage the on-line shopping experience as usual, but the card data will be protected with a much better level of security: instead of the static CVV (clonable), the user will digit the dynamic CVV generated by the display on the card. The CVV is valid just for a limited period of time (ex. 1 hour), so the data can be used only by the person who physically has the card in the hands.