UK bank Barclays is planning to issue bank cards that replace the three-digit security number on the back of the card with a dynamic CVV code that changes periodically to tackle online purchasing fraud, according to The Telegraph. The cards would also include contactless technology, and either a Wifi aerial or Bluetooth.
„Second World War cipher technology is being built into tiny processors to develop the next generation of ultra-secure bank cards. The concept behind the design of Nazi military coding machines such as Enigma will be used to replace the existing three-digit CVV security number, which is currently found on the back of credit and debit cards. Instead, cards will include a device that generates a frequently changing number to wrong-foot fraudsters. The innovation is being hailed as the biggest shake-up in the field since the introduction of chip and pin in 2004.”, says The Telegraph.
Inventors David Taylor and George French have secured a patent for the technology, which Barclays plans to adopt.
Second World War encrypted communications worked on the basis of ever-changing ciphers, some of which codebreakers like Alan Turing successfully cracked, gifting Allied commanders a wealth of intelligence.
In a similar vein, Barclays customers will tap their PIN into a keypad mounted on the card which will create a range of security ciphers. The codes will be generated at a timed interval by a tiny clock and appear next to the signature strip.
As well as replacing the static CVV number, which was first used 20 years ago but is now seen as a security weakness, the new technology also signals the end of PIN-entry card readers.
Other features in the smart card include a contactless payment chip and either a wifi aerial or Bluetooth.
Professor Alan Woodward, a cyber-security expert at the University of Surrey, said: “Barclays are trying to have technology that could display several different codes for different situations.
“These systems put yet another obstacle in the way of criminals.”
A spokesman for Barclays said: “This patent was filed in support of an innovation that would see a CVV code that changes dynamically put onto a physical card, in order to tackle online purchasing fraud.”
He added, however, that it was not possible to predict when the technology would be ready for customers to use.
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