Deutsche Bank in Spain is to issue a credit card with a dynamic CVC code that changes every four hours, in a bid to create a safer shopping experience for online purchases, according to finextra.com. The German bank has teamed up with Mastercard and Idemia to launch the ‘Motion Code’ card under the brand name Tarjeta Calma.
Idemia’s Motion Code technology consists of a dynamic cryptogram changing randomly to provide better security for online payment by preventing data theft and cloning.
„The Deutsche Bank Mastercard Tarjeta Calma will go beyond usual payment card benefits and offers customers the latest security tech so that they can buy online in an environment where online shopping is ever growing,” says Luis Miegimolle, Deutsche Bank Card Manager. „We are thrilled to pioneer this technology in Spain and introduce this new product backed by Mastercard and Idemia.”
Other European banks to have tried out dynamic CVC technology include SocGen, BNP Paribas, and BPCE.
„Though Libra has met with fierce resistance from central banks and supervisory authorities and might never see the light of day, in many other cases tech firms (both start-ups and established big players) have successfully captured bits and pieces of universal banks’ traditional value chain. This trend may only intensify in the coming years. In this environment, European banks remain squeezed.”