PNC pilots dynamic CVV2 technology for commercial card clients

PNC Bank Treasury Management, a member of The PNC Financial Services Group Inc., has announced the pilot of dynamic CVV2 technology for commercial card customers, working together with Idemia, Visa and TSYS

According to a press release, the pilot employs motion code technology – developed by Idemia and based on the Visa Dynamic CVV2 specification – that automatically changes the three-digit security code on the back of a credit card within a specified period of time.

The Dynamic CVV2 is displayed on an e-ink screen on the back of the card where a static CVV2 normally would appear. If an EMV chip card with Dynamic CVV2 is compromised, any information is rendered virtually useless as the chip cryptogram protects against card-present compromise fraud and the dynamic CVV functionality protects against card-not-present compromise fraud when a merchant system requests and verifies the code.

Dynamic CVV2 requires no change in cardholder or merchant behavior. The cardholder simply uses the number displayed on the back of the card at the time of purchase.

«People do not want to change the way they shop online or add additional steps to the online ordering process,» said Megan Heinze, Idemia head of financial institutions in North America. «As EMV chip technology addressed card-present-fraud, there is an increased demand in the United States for security measures specifically designed for e-commerce. Idemia's motion code technology is a solution to alleviate these concerns.»

PNC Treasury Management expects to offer dynamic CVV2 technology to current customers in early 2019, following completion of the pilot.

Source: ATM Marketplace