swIDch uses dynamic PANs to overcome numberless cards limitations

Wednesday 15 April 2020 10:27 CET | News

UK-based cybersecurity startup swIDch has announced the use of PANs (primary account number) to overcome numberless cards limitations and to create a new security environment in the payment process.

Eliminating numbers on payment cards increases security if customers lose their card. However, hackers can exploit weaknesses through online payments because the customer’s card information is static. Logged credentials risk being targeted for CNP (card not present) fraud.

Another consequence of using static PANs is BIN (bank identification number) attacks letting cybercriminals know BIN numbers and systematically generate potential valid card numbers.

swIDch has introduced dynamic virtual PAN technology for businesses offering a numberless cards solution. This API-driven technology replaces static with dynamic PANs as well as eliminating access points for hackers.

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Keywords: swIDch, UK, PAN, numberless cards, BIN, API, cypersecurity, cybercriminals, payment card, online payment
Categories: Fraud & Financial Crime
Countries: United Kingdom
This article is part of category

Fraud & Financial Crime