OT partners with PROSA to combat online fraud in Mexico
Oberthur Technologies (OT) has partnered with PROSA, a provider of payment processing services, to launch OT Motion Code technology
Oberthur Technologies (OT) has partnered with PROSA, a provider of payment processing services, to launch OT Motion Code technology in Mexico to combat online fraud.
With the solution, the static printed code (CVV) is replaced by a mini-screen that displays an automatically refreshed code generated by an algorithm loaded in the chip embedded in the card body (dynamic CVV).
If the card is stolen, the information, including the dynamic code, is lost immediately, preventing fraudsters to resell stolen card data. The solution also complies with Visa and MasterCard regulations.
OT said that first deployment with an issuer will be announced early 2016.
OT managing director of the financial service institutions business Eric Duforest said: “We are delighted to have been selected by PROSA to provide OT Motion Code, our disruptive technology which makes the security code on a payment card dynamic.”
PROSA general manager José Molina said: “As the first company to have introduced this kind of technology, OT has proved it is the best partner with a turnkey solution to help us to reduce online fraud and provide Mexican consumers with a convenient, secure and seamless online shopping experience.”