Oberthur Technologies has launched a new card security system in Europe. Called Motion Code, it’s a mini-LCD display, embedded on a payment card, that shows a dynamically changing code meant to replace the static CVV found on the back of most credit cards.
In a statement, the company asserted that its technology’s European launch followed an initial pilot project. OT CMO Cedric Collomb highlighted the results from an online survey of 200 individuals in Spain in which 75 percent of respondents “said they would be likely to use a technology such as Motion Code” were their banks to offer it. Fifty-eight percent of the 200 respondents said they would even pay for such a technology, Collomb added.
OT has a rising profile in digital security, with the company to be paired with Safran Identity & Security in a merger for which negotiations are currently underway.