G+D rolls out payment card with dynamic verification code

The Convego SecureCode card introduces dynamic security features aimed at reducing unauthorised use of card data. CNP fraud, which occurs when stolen card details are used without the physical card, accounts for around 70% of global credit card fraud cases. With digital transactions increasing, banks and financial institutions face mounting pressure to secure payment environments without creating additional friction for consumers. Projections suggest global fraud losses could approach USD 50 billion by the end of this decade. 

The Convego SecureCode card replaces the static security code traditionally found on the back of payment cards with a dynamic version that changes periodically. This code is displayed via an embedded e-ink screen and is automatically refreshed during each transaction, including contactless and in-store payments. Cardholders can also update the code manually using their bank’s mobile app.

Dynamic security without added friction

Unlike other technology-based alternatives, the Convego SecureCode card operates without the need for batteries, external apps, or plug-ins. According to G+D officials, the design was developed to maintain the user experience of conventional cards while extending product lifespan through a battery-free EMV module. The company stated that the goal is to reduce exposure to fraud without requiring consumers to alter their payment behaviour or use additional hardware. 

Frequent fraud events can have wider effects beyond financial losses. In some cases, consumers may shift to alternative banks they perceive as more secure, and merchants may decline cards issued by institutions frequently associated with unauthorised activity. G+D’s solution is intended to help mitigate these risks by ensuring that ecommerce and remote payments are authorised by the legitimate cardholder. 

A representative from G+D noted that the technology offers banks a tool to limit fraud while meeting consumer expectations for ease of use in digital payments.