Oberthur Technologies is launching a payment card that integrates fraud prevention technology from NagraID Security, a move designed to protect against online payment, or "card not present" fraud, which is expected to increase due to the EMV migration.
NagraID, a display card specialist Oberthur acquired in September, offers dynamic Card Verification Value/Code technology, which replaces the three or four digit security code with a small screen that regularly refreshes the code according to an algorithm loaded in a chip that is embedded in the plastic card. The companies are targeting the service
The code-refresh timing can be set by the hour or in another frequency as defined by the card issuer. It ensures a stolen card's information has no value for fraudsters who usually resell stolen card data on dark websites to online shoppers, Oberthur explained in a press release.
The will "rapidly and drastically reduce card-not-present fraud," Eric Duforest, Oberthur 's managing director of the payment business unit, said in an Oct. 9 press release. In addition it is easy to use and "compliant with every existing online payment infrastructure."
Oberthur plans to start customer pilots in the fourth quarter of this year and commercial sample shipments in the first half of 2015.