Getin Bank has rolled out a pilot program with MasterCard to launch a new dynamic card verification code (DCVC) on the back of its payment cards in Poland.
With this DCVC code, the bank aims to replace the static three-digit security code on its cards with a dynamic, changeable code that can be constantly changed electronically to enhance security, reported Finextra.
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The bank intends to launch the new DCVC card to customers by the end of the second quarter of 2015.
The pilot electronic CVC security code will be displayed on an integrated mini-screen that is automatically refreshed every hour. The technology has been designed to fight potential theft, fraud in online transactions and database hacking. The solution is considered to be much faster than other security protocols for securing online transactions such as 3D Secure.
Getin Bank management board member Maciej Szczechura said: "The DCVC card employs advanced technologies to guarantee the top security level, while providing even more convenient access to online payments."
