Mobile dynamic CVV/CVC to secure Card-Not-Present transactionsAmsterdam, November 26, 2015 – Gemalto (Euronext NL0000400653 GTO), the world leader in digital security, is providing BBVA Bancomer, the leading financial institution in Mexico serving over 20 million customers, with Dynamic Code Verification, Gemalto’s dynamic CVV/CVC solution protecting against Card-Not-Present (CNP) fraud. This is the first commercial rollout of its kind and the solution is delivered to BBVA Bancomer in its mobile version. The solution also comprises of a validation server and associated services.
Enabled by the Ezio Mobile technology, Gemalto’s Dynamic Code Verification solution is a new feature of BBVA Bancomer’s mobile wallet application that replaces static 3-digit codes with a time-based dynamic CVV/CVC, unique to each individual transaction. The solution mitigates eCommerce fraud linked to stolen card numbers while preserving the unique user-centric experience of online shopping as well as from the ease of a smartphone.