OT to launch Motion Code platform in Mexico with Prosa

Wednesday 13 January 2016 | 15:59 CET | News

Oberthur Technologies (OT) and Prosa, a provider of payment processing services in Mexico and Latin America, have signed a partnership agreement to provide Mexican banks with the OT Motion Code platform. The OT Motion Code technology is designed to reduce online fraud. Via this technology, the 3-digit static code printed on the payment card is replaced by a dynamic code which is automatically refreshed.

With this offer, the static printed code (CVV) is replaced by a mini-screen that displays an automatically refreshed code generated by an algorithm loaded in the chip embedded in the card body (dynamic CVV). The refresh timing will be defined by Mexican financial institutions. As a result, if stolen, the card information, including the dynamic code, immediately loses any value for fraudsters who usually resell stolen card data on ‘dark websites’ to people who buy them to perform fraudulent online purchases. Customers can use their payment card integrating OT Motion Code to purchase online using a computer, a smartphone or a tablet.

The OT Motion Code platform complies with Visa and MasterCard regulations. A first deployment with an issuer will be announced early 2016.

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