UK bank Barclays is planning to issue bank cards that replace the three-digit security number on the back of the card with a dynamic CVV code that changes periodically to tackle online purchasing fraud, according to The Telegraph. The cards would also include contactless technology, and either a Wifi aerial or Bluetooth. “Unfortunately, at this stage and due to the nature of the project, we aren’t able to provide further insight in how it might one day look for consumers,” Barclays told NFC World.
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One comment on this article
Life of the card limited by the life of the battery?
We already have a solution, proxies (e.g., PayPal), to online fraud prevention that waits only on merchant adoption. In the meantime, American Express claims sixty second fraud detection just by notifying the cardholder of all transactions in near real-time.
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