CVV (Card Verification Value) codes are designed to prevent fraud during card-not-present (CNP) transactions, yet this three- or four-digit number on a bank card still has the potential to be compromised—particularly if it never changes. PNC Bank is aiming to address card fraud using dynamic CVV cards with integrated e-ink screens.
On the back of the card where the CVV is usually situated, the e-ink screen is set to change every hour over the card’s three-year battery life. This new card has the potential to protect both online and CNP transactions, ultimately increasing overall security.
PNC Bank has plans to offer these dynamic bank cards to its Treasury Management division’s commercial cardholders as of early 2019.
E-Ink Bank Cards
PNC Bank's Dynamic CVV Cards Have Continuously Updating Security Codes
Trend Themes
1. Dynamic CVV Cards - Dynamic CVV cards with continuously updating security codes offer enhanced fraud protection for card-not-present transactions.
2. E-ink Screens - The use of e-ink screens on bank cards allows for secure and continuous updating of security codes.
3. Increased Security - The implementation of dynamic CVV cards with e-ink screens increases overall security for online and CNP transactions.
Industry Implications
1. Banking - Banks can adopt dynamic CVV cards to enhance security for their customers' online and CNP transactions.
2. Technology - The use of e-ink screens on bank cards presents disruptive innovation opportunities in the field of display technology.
3. Finance - The introduction of dynamic CVV cards can drive innovation in the financial industry and provide improved fraud protection for businesses.