Gemalto secures e-commerce
Company demos smart bank card
Gemalto is showing off a new smart bank card designed specifically to bring security and convenience to e-commerce transactions at this year’s GITEX Technology Week.
The solution provides dynamic characters on the back of the card. These characters, shown in e-paper format, change every 20 minutes, so that codes are never the same.
“You take a normal debit or credit card, and we have added an e-paper solution just like on the Amazon Kindle. You have some dynamic characters which are being displayed at regular intervals. When you shop online, you enter your 16-digit card, and then you enter your card verification code, which is at the back of the card,” explains Francois Chaffard, Payment Services Director for the Middle East and Africa, Gemalto.
“Normally this is static. What we provide is a dynamic code that changes every 20 minutes, and this is the way we secure the transaction.”
According to Chaffard, the Dynamic Verification card reduces friction for consumers making online transactions, while also increasing security. He adds that the solution requires no modifications on the merchant side, as the card is simply a solution to be rolled out by banks.
“It’s available, and it’s being deployed by some of the banks. It’s very simple,” he says.