PNC Bank’s treasury management unit is trialling technology that guards against card-not-present fraud by automatically changing the three digit CVV code on the back of credit cards.


The pilot will see commercial card customers test Motion Code technology developed by Idemia based on Visa’s Dynamic CVV2 specification.

The Dynamic CVV2 is displayed on an e-ink screen on the back of a card where the code is normally printed, automatically changing within a set amount of time.

This means that if a card is compromised any information gained is rendered virtually useless for online fraud, which crooks have increasingly turned to since the introduction of EMV chip technology, which has made card-present theft more difficult.

PNC says that, following the pilot, it plans to roll out the technology to all of its treasury management card customers early next year.

– Finextra.com –

Biometric payment card forecast predicts 579m cards in circulation by 2023

Biometric cards’ ability to enable frictionless customer authentication for higher value contactless transactions will lead to the technology gaining widespread adoption by 2023, Goode Intelligence predicts, with a total of almost 579m biometric payment cards in use around the world in five years’ time.

“After a year of pilots for biometric payment cards in 2018 we will see additional pilots in 2019 with even a small number of commercial deployments,” CEO Alan Goode explained to NFC World.

“2020 will be the year that we shall see an acceleration of biometric payment card shipments for customers around the world.

“As enrolment models are refined and card prices reduce, the benefits to consumers of security and convenience with the ability to use these cards for higher value payments in physical locations including retail stores will further accelerate adoption of biometric payment cards.”

Overall, Goode Intelligence predicts that more than 2.6 billion people will be using biometrics to secure payments by 2023, driven by a number of factors including consumer desire for frictionless authentication while paying, the need to reduce payment fraud, industry and state regulation and technology standardisation.

– nfcworld.com –

54% of Brits would use biometric payment cards

More than half of UK consumers (54%) would use a biometric payment card if their bank made one available today, a new survey has found, and 82% say it would become their preferred payment card.

Eight out of 10 consumers believe that a biometric payment card, with a built-in fingerprint sensor, will offer increased convenience and security, the survey conducted by GfK for Gemalto found.

86% perceive the technology to be more secure and 82% believe it will provide greater convenience.

Advantages cited include no need to remember different PINs, a more secure experience (“no more risk of someone stealing my PIN code when I pay”) and more opportunities to make contactless payments thanks to the higher spending limits that biometric cards are expected to provide.

Consumers who expressed concerns about using biometric technology cited feeling afraid that their fingerprint won’t work all the time (41%) and concerns about the biometric security being compromised (37%).

“These concerns should be alleviated as consumers learn more about the technology,” Gemalto says. “For example, patek phillipe replica biometric cards will be able to fall back to a PIN code authorisation if for any reason the fingerprint reader malfunctions. The fingerprint data is also securely stored in the card’s chip. It never leaves the card. It’s not kept on the bank’s servers nor sent to a personalization bureau.”

More than 579m biometric cards will be in use around the world by 2023, analysts Goode Intelligence predict. Demand is expected to be driven by the technology’s ability to enable higher value contactless transactions at the point-of-sale.

– nfcworld.com –

SoGen tests biometric cards for limitless contactless payments

Societe Generale is trialling a payments card with a built in fingerprint reader that enables users to make contactless payments of any amount.

The biometric element eliminates the need for shoppers to enter a PIN, letting them tap and pay for any amount.

When a customer receives the card, they record their fingerprint themselves. Because the data is verified directly on the card, no element of it is transmitted to either the bank or merchant.

The card also functions normally for all contact-type payments in-store, on the internet and ATM withdrawals.

– Finextra –

Contactless overtakes Chip and PIN for in-store transactions

Worldpay is declaring a tipping point for contactless payments in the UK, as tap and pay transactions overtake Chip and Pin for in-store card payments for the first time.

The latest figures from Worldpay show that contactless usage jumped by 30% in the past year to become the most popular form of card payment for in-store transactions. 

Fashion retailers have seen the greatest shift from Chip and PIN to contactless, with the sector citing a massive 415% year-on-year increase. Mobile contactless payments also rose significantly in the clothing and footwear sector, up almost 500% over the past year. Betting shops and department stores also saw significant growth of mobile contactless payments: between 150-250%. 

Worldpay predicts that during the final six months of 2018, UK shoppers could spend up to £38.5billion via contactless transactions in-store. Part of this growth comes from the rise in use of mobile wallets such as Apple Pay, Samsung Pay and Google Pay, which have seen a 114% increase on the high street over the same period.

– Finextra –


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