AMSTERDAM, Nov 26, 2015 – (ACN Newswire) – Gemalto (Euronext NL0000400653 GTO), a global leader in digital security, provides Dynamic Code Verification to BBVA Bancomer, a leading financial institution in Mexico with over 20 million users, This is Gemalto’s dynamic CVV/CVC solution, protecting against Card Transaction (CNP) fraud. This is the first commercial deployment of such a product, and the solution will be used in the mobile version of BBVA Bancomer. The solution also includes an authentication server and associated services.
Gemalto’s dynamic security verification code solution powered by Ezio Mobile technology is a new feature of the BBVA Bancomer mobile wallet app, replacing static 3-digit codes with a dynamic, time-sensitive CVV/CVC that is unique for each transaction. The solution reduces e-commerce fraud associated with stolen credit card numbers, ensures a unique user-focused online shopping experience, and makes it easy to do from a smartphone.
The BBVA Bancomer mobile wallet powered by Gemalto’s solution enables the secure creation and digital storage of sensitive bank card-related data to the user’s mobile device. Leveraging Gemalto’s proven Ezio Mobile technology, the solution features a scalable, forward-looking architecture that supports evolving next-generation capabilities and enhanced security as market demands change.
“Mobile banking and e-commerce are expanding rapidly, but a lack of trust can hold back some customers,” said Hugo Najera Alva, chairman of digital banking at BBVA Bancomer. “Our long-term partner Gemalto has helped us rapidly implement our ground-breaking dynamic CVV/CVC technology, and the response so far has been very positive: in the first week of the project, we already had over 100,000 active users.”
“E-commerce in Mexico grew 34% between 2013 and 2014[1]while Mexican banks reported around 2.9 million suspected fraud cases[2],” said Herve Bayle, vice president of e-Banking Americas at Gemalto. “Our solution provides Bancomer with a unique user experience that reduces the impact on existing merchant-acquirer-issuer architectures. For physical cards, Gemalto is able to offer another innovative and extensive CVV/CVC solution: EMV Display cards that combine CNP security features with next-generation payment security solutions. “
About Gemalto
Gemalto (Euronext NL0000400653 GTO) is a global leader in digital security with an annual turnover of EUR 2.5 billion in 2014 and blue-chip customers in more than 180 countries.
Gemalto helps people trust each other in an increasingly connected digital world. All are looking for a better way of living, a smarter living environment, and the ability to communicate, shop, travel, bank, play and work with others in a safe and enjoyable way, anytime, anywhere. In this fast-paced mobile and digital environment, we help businesses and governments by securing financial transactions, mobile services, public and private clouds, e-health care systems, e-government service access, the Internet and IoT, and transportation ticketing systems Provide many trusted and convenient services.
From embedded encryption software on a variety of everyday Electronic devices, to highly reliable, scalable backend platforms and authentication, as well as encryption and digital certificate management – Gemalto’s unique technology portfolio is delivered by our world-class service team. We have 14,000 employees in 99 offices in 46 countries, 34 personalization and data centers, and 24 research and software development centers.
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