COLOMBES, France-Friday, December 8th 2017 [ AETOS Wire ]
(BUSINESS
WIRE)-- IDEMIA, the global leader in trusted identities for an
increasingly digital world, today announces its partnership with
FlexiGroup, Australia’s market leader in Point of Sale consumer and commercial finance to launch Australia’s first MOTION CODETM credit card.
Developed
by IDEMIA (formerly known as OT-Morpho), the MOTION CODETM credit card1
is a high-tech payment card with a dynamic security code (CVV2) that
automatically changes hourly. Instead of a static security codeprinted
on the back of a bank card, the MOTION CODETM CVV2 is displayed on an
e-paper “mini-screen”. The security code automatically refreshes to a
random security code every hour. This solution has no impact on the
cardholder journey for safer online transactions: if compromised, this
dynamic data becomes rapidly unusable.
As
online shopping becomes increasingly popular, the cases of online fraud
have escalated with online fraud in Australia rampant at $417m last
year and growing 15% per year, according to the Australian Payments
Network.
FlexiGroup will be the first company to launch MOTION CODETM credit cards in Australia in the first half of 2018.
“The
security of our customers’ payment details is tremendously important to
us and the levels of security are constantly evolving with the
increasing use of online payments. The addition of this dynamic security
feature means FlexiGroup will be able to offer customers advanced
safeguarding when making online purchases. We continually strive to
deliver innovative and tailored financial solutions for our customers
and we are excited to partner with IDEMIA to be the first to bring
MOTION CODETM technology to Australians”, said Symon Brewis-Weston, CEO
of FlexiGroup.
“We
are thrilled about this exclusive launch of MOTION CODETM here as it is
the first product of its kind in Australia and has the potential to
significantly impact the online payments industry by reducing fraud. But
more importantly, MOTION CODETM can create better customer experience
for shoppers as well as provide a strong sense of comfort and security
for buyers to go online”, said Mark Garvie, Asia Pacific Managing
Director for Financial Institutions activities at IDEMIA.
FlexiGroup is also partnering with Mastercard to bring this new MOTION CODETM card to market.
“Safety
and security is one of Mastercard’s global priorities, so we’re
incredibly excited to partner with FlexiGroup to enable the launch of
this Australian-first technology. We believe this technology will help
shape the future of fraud prevention in Australia to make payments more
secure, convenient and reliable for both businesses and consumers”, said
Matt Barr, Senior Vice President: Core, Digital and New Payment Flows.
FlexiGroup will announce further details on a new product offering featuring MOTION CODETM technology closer to launch in 2018.
1 www.idemia.com/innovation/motion-code
This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20171207005650/en/
Contacts
For IDEMIA:
Press contacts
Julien Tahmissian, + 33 (0)1 58 47 90 54
julien.tahmissian@havas.com
or
Niels Gaubert, + 33 (0)6 13 39 33 36
niels.gaubert@havas.com
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