Your next bank card may change numbers every hour

first_imgBank and credit cards are present in everyone’s purse or wallet. They are the gatekeepers to our funds, offering access to ATMs, a way to quickly pay for goods over the counter or online, and an essential part of actually dealing with your bank. However, they are also the target of fraudsters who have many methods of stealing or copying their details and spending your cash for you.Soon, however, stealing your card details may end up being completely pointless because an hour after they are stolen they stop working. That’s because bank cards are set to get a little bit more intelligent by switching the 3-digit Card Security Code (CSC) found next to your signature every 60 minutes.Until now, the CSC has been a permanent printed code on the back of a card. You typically have to enter it during online checkout to help confirm the card is valid and in your possession. But it’s just as easy for a fraudster to steal this number along with those on the front of the card. So French digital security company Oberthur Technologies came up with a solution they call MotionCode.MotionCode replaces the permanent CSC with a tiny display. Once every hour the 3 digits on the display change, rendering the old set useless. In effect, a fraudster would have at most 60 minutes to steal your card details and use them, which pretty much renders the stolen card useless. They certainly can’t sell the details on to someone else, and as an added bonus you won’t need to go through the hassle of replacing your card.This clever tweak to the bank card (and eventually credit cards) is still in its infancy, but two French banks (Société Générale and Groupe BPCE) are set to introduce it for their customers. If no problems present themselves, and with card fraud being such an expensive problem for banks, we can expect MotionCode to be used by a growing number of banks in the next few years.A card using MotionCode looks and acts exactly the same as the cards we use today, they just have a display on the back. You also don’t have to worry about the battery running out as it’s guaranteed to last beyond the expiry date of the card.last_img

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