PNC trials IDEMIAs CVV2 technology for commercial card clients

Friday 9 November 2018 10:11 CET | News

PNC Bank Treasury Management has announced the pilot of Dynamic CVV2 technology for commercial card customers, working together with IDEMIA, Visa and TSYS.

The pilot employs MOTION CODE technology developed by IDEMIA and is based on Visas Dynamic CVV2 Specification, which automatically changes the three-digit security code appearing on the back of a credit card within a set amount of time.

The Dynamic CVV2 card is designed to reduce card-not-present fraud as it is based on the effectiveness of EMV chip technology in reducing card-present, counterfeit fraud at the physical point-of-sale. It is displayed on an e-ink screen on the back of a card where the CVV2 normally is printed as a static security code.

If an EMV chip card with Dynamic CVV2 is compromised, any information is rendered virtually useless since the chip cryptogram protects against card-present compromise fraud. The dynamic CVV functionality protects against card-not-present compromise fraud when a merchant system requests and verifies the code. Dynamic CVV2 requires no change in cardholder or merchant behaviour. The cardholder simply uses the number displayed on the back of the card at the time of purchase.

PNC Treasury Management expects to offer Dynamic CVV2 technology to current customers in early 2019, following completion of the pilot.

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Keywords: PNC Bank Treasury Management, IDEMIA, Visa, TSYS, card not present fraud, card not present transactions, retailers, credit card
Countries: World