The French company Oberthur Technologies has developed a credit card with a security code that changes every hour. According to the developers, this will make it impossible to use the card in the event of data theft.
Credit card fraud on the Internet has grown on a massive scale lately. The data stolen from them allows cybercriminals to dispose of other people's money at their own discretion, causing enormous damage to their real owners.
Many banks have tried to combat fraudsters by flagging suspicious transactions, but this system has proven imperfect. And then the two largest French banks Sosiete General and Groupe BPCE introduced a new fraud prevention system called Motion Code, developed by Oberthur Technologies.
On the back of the credit card, there is a small screen, which every hour reflects the change in the security code, which nullifies all attempts at fraudulent transactions. The screen is made of durable waterproof material and matches the thickness of the card itself. It is powered by a small 3-year lithium battery, after which the card is replaced.
The card will soon be available in France. Pilot programs for its introduction are underway in Poland, Mexico and the UK.