BNP Paribas has become the latest French bank to pilot Oberthur’s OT Motion Code technology, replacing the three-figure CVV code on the rear of a card with a small screen display that automatically changes periodically. The bank will issue 1000 of the cards, which have a screen on their back displaying a security code that is regularly refreshed, to selected customers for use in online payments.
BNP Paribas is running a trial of OT MOTION CODE™ with 1000 French customers. The dynamic security code solution replaces the 3-digit static code located on the back of the card, used to confirm online payments.
„The dynamic security code is designed to effectively combat payment card fraud, in which hackers obtain the payment information used when consumers make purchases online. The dynamic code changes regularly, meaning that it is impossible to reuse.”, according to the press release.
To carry out the trial, BNP Paribas chose Oberthur Technologies’ OT MOTION CODE™ solution. The payment cards have a screen on their back displaying a security code that is regularly refreshed. This dynamic security code strengthens the security of online payments for BNP Paribas customers, without the slightest change to their customer experience.
Marc Espagnon, Head of Payment and Cash Management at BNP Paribas said: “The trial is fully in line with BNP Paribas’ desire to constantly improve our customer experience. By testing this solution with our customers in France, we believe that we will increase their confidence in online payments through increased security”.
“At OT, our priority is to constantly adapt to new consumer purchasing habits and provide payment solutions that guarantee both maximum security and optimum user-friendliness. With MOTION CODE™, OT is offering a fully integrated solution, from production of the card to installation of authentication servers”, said Eric Duforest, Managing Director of the Financial Services Institutions at OT.
“More than 90% of online transactions in France are made using payment cards. The dynamic security code will improve the security of purchases made online and is compatible with all e-commerce websites. We are glad to have supported BNP Paribas and OT in this innovative move”, said Gilbert Arira, Groupement CB CEO.
The first live trials of the product were conducted last year by Banque Populaire and Caisse d’Epargne. Oberthur has provided no details on the outcome or user experience issues uncovered during that initial pilot.
„Tendinţele pe care le-am remarcat înainte de începerea pandemiei s-au accelerat pe perioada stării de urgenţă. Am văzut acest lucru ca o oportunitate, un tipping point pentru bancă. Post-pandemie nu avem cum sa ne întoarcem la comportamentul financiar pe care îl aveam până în februarie a.c. Relaţia românilor cu online-ul s-a schimbat. In plus, cardul fizic se va dematerializa. Vom asista la o scădere a cererii pentru cardurile fizice, respectiv la o creştere a preferinţei pentru componenta digitală a acestora.”