UK-based business management platform, Tide, has become the first card provider to wipe off all printed numbers on its cards, including the card’s number, its expiry code, and the three-digit security code, eliminating exposure to various types of card fraud.
The new design of the Tide cards will no longer carry numbers on them, aiming to stop unauthorised online, mail, or phone fraud if the cards is lost, stolen, intercepted, or exposed to shoulder surfing.
The ongoing problem of CNP fraud
Adjacent types of card-not-present (CNP) fraud such as remote purchase fraud have reached an all-time high across the UK. According to UK finance, losses associated with this type of fraud reached almost GBP 400 million in 2024 alone, with an 11% increase from 2023. An additional GBP 65 million was lost to other types of fraud related to printed card details, including card ID theft, card-not-received fraud, and counterfeit card fraud.
As previously mentioned, Tide becomes the first business in the UK to roll out numberless cards, in partnership with global card issuer, Mastercard.
This is part of an extensive programme for Mastercard, which is committed to phase out manual card entry by 2030 across Europe. By partnering with Tide, Mastercard aims to provide British businesses with safer and more convenient ways to pay and get paid, such as tokenized transactions.
Alongside with launching numberless cards, Tide also plans to expand the lifespan of its cards from three to four years, reducing unnecessary re-issuance and making a stance to reduce plastic waste.
More details about Tide
Launched in 2017, Tide is a business financial platform committed to helping SMEs through business accounts, related banking services, and many administrative solutions, from invoicing to accounting.
Tide works with approximately 750,000 SMEs across the UK and more than 750,000 SMEs in India. In May 2024, the company expanded to Germany.
