An Post have launched new anti card theft technology for customers to combat card fraud.
The new technology is in collaboration with SafeCypher and focuses on card authorisation.
CNP, which is also known as Card Authorisation fraud is one of the most popular types of payment card fraud worldwide.
The ‘Dynamic CVV’ facility will protect current account customers against fraud when making payments online or over the phone with their current account details.
The technology provides two-factor authentication for every payment by replacing the standard CVV on the back of the physical card with a new randomly generated CVV.
This randomly generated number is used only once and the customer generates a new one for every new transaction.
Only the genuine cardholder will have access to the dynamic CVV for every transaction, created specifically just for that transaction.
