Australia could be among the first markets to get IDEMIA‘s Motion Code payment card solution: The company has announced that domestic partner FlexiGroup will launch the solution in the country sometime in the first half of next year.
First announced a little over a year ago, Motion Code is a payment card solution in which the CVV2 numerical code found on the back of the card dynamically changes every hour. That’s because it’s displayed on a miniature screen and thus entirely digital; and what the means for end users is greater security, since even if a thief or fraudster succeeds in getting all of a would-be victim’s credit card information, the dynamic CVV2 will change within an hour, rendering that particular piece of information useless.
The CVV2 solution made its debut in China this past September, and shortly after that IDEMIA announced that Motion Code would be supported by Visa’s dCVV2 authentication service, which will considerably simplify things for card issuers as they no longer need to set up their own server systems to manage the changing codes. And that, of course, increases the appeal of the solution to those card issuers, who can focus on its benefits.
In a statement announcing IDEMIA’s arrangement with FlexiGroup, the latter’s CEO, Symon Brewis-Weston, emphasized the solution’s advantages in digital commerce, asserting, “The addition of this dynamic security feature means FlexiGroup will be able to offer customers advanced safeguarding when making online purchases.” And with digital payments on the rise both through desktop browsers and mobile devices, that’s an advantage that additional card issuers are sure to take note of going forward.