MOTION CODE™ on the back of credit cards refreshes automatically
CHANTILLY, Va.–(BUSINESS WIRE)–Oberthur Technologies (OT), a leading global provider of embedded
security software products and services, and an award-winning innovator
in the payment sector, announced today the results of a survey which
shows eighty percent of respondents would be more likely to use a MOTION
CODE™-enabled card vs. one with a printed, static CVV for online
The static printed code (CVV) is replaced by a mini-screen that displays
an automatically refreshed code generated by an algorithm (dynamic CVV)
every hour and does not add any steps to an online purchase. If the card
data is stolen, it becomes useless within the next hour.
“Online fraud is now 65 percent of the total card fraud. That’s why
OT developed MOTION CODE™ – to combat Card-Not-Present (CNP) fraud,”
said Martin Ferenczi, President for North America at OT. “MOTION
CODE™ reduces online fraud and is completely transparent to the
cardholders and e-retailers.”
Respondents described the cards as “an efficient answer to online fraud
issues” (88 percent), “easy to use” (88 percent) and “innovative” (90
Per a February 2016 Report from the U.S. Commerce Department, total
e-commerce sales for 2015 were estimated at $341.7 billion – an increase
of 14.6 percent from 2014. E-commerce sales in 2015 accounted for 7.3
percent of total sales versus 6.4 percent of total sales in 2014.
While e-commerce sales continue to rise, 61 percent of survey
respondents who have been victims of online fraud said they are either
more cautious when they shop online or shop online less frequently
because of fraud. However, 60 percent of respondents said they would be
willing to pay more for the new technology in a MOTION CODE™-enabled
card to address online fraud.
“The survey demonstrates consumers both have a need to secure their
online transactions and recognize the value of MOTION CODE™ as an answer
for online fraud,” Ferenczi said.
Methodology: The survey of 231 respondents was conducted online
in conjunction with Dentsu Aegis. Sixty percent of respondents were
women vs. 40 percent men. Five age brackets (18-24, 25-34, 35-44, 45-54
and 55-plus) were equally represented.
ABOUT OBERTHUR TECHNOLOGIES
OT is a world leader in embedded digital security that protects you when
you connect, authenticate or pay.
OT is strategically positioned in high growth markets and offers
embedded security software solutions for “end point” devices as well as
associated remote management solutions to a huge portfolio of
international clients, including banks and financial institutions,
mobile operators, authorities and governments, as well as manufacturers
of connected objects and equipment.
OT employs over 6,300 employees worldwide, including almost 700 R&D
people. With a global footprint of 4 regional secure manufacturing hubs
and 39 secure service centers, OT’s international network serves clients
in 140 countries. For more information: www.oberthur.com
Trent Freeman, 310-824-9000