China-based bank CMBC has just launched the country’s first credit card featuring dynamic CVV2. The pioneering technology comes by way of OT-Morpho.
Called ‘Motion Code’, the system was first launched last autumn by Oberthur Technologies, before the company merged with Safran Identity and Security to form OT-Morpho. Its dynamic CVV2 technology replaces the static CVV2 found on most contemporary payment cards – the three-digit number usually found on the back of the card, next to the cardholder’s signature box. Motion Code’s numbers automatically change every hour, adding an extra layer of security to the payment card and helping to prevent its misuses if lost or stolen.
OT-Morpho showcased Motion Code at this year’s Mobile World Congress among other new smart payment card solutions. Another of them, the F-Code, is a payment card with an embedded fingerprint sensor, and may point to another, future OT-Morpho card security solution, given the growing activity in this emerging biometric smart cards market.
In the meantime, CMBC is offering the Motion Code solution in the form of a Visa Signature credit card, and presenting customers with the option of upgrading to the card via its WeChat application.