Oberthur Technologies has developed a ready-to-go solution for banks and financial institutions that will make fraud virtually impossible for potential hackers. The card, dubbed Motion Code, will keep your digits safe by replacing the security code (the three numbers on the back of your card) with a miniature screen that changes every few hours to keep you safe from online purchases made without the card present. These “card-not-present” scenarios account for 65 percent of fraud, so this move is more than welcomed. The need for this kind of technology is more than obvious. 31.8 US consumers were victim to some form of credit card fraud in 2014. Those numbers will only serve to increase, as banks have been slow to adapt to the changing digital landscape ahead of them. Consumers are more and more pressed for secure means of using their information online. And with a simple switch like this, consumers are sure to jump on board as fast as humanly possible. While the idea is genius, reality is always a pain to deal with. Oberthur Technologies hopes to have a number of pilot programs out by the end of the year, meaning this revolutionary technology won’t become standard on credit cards for quite some time. So hold onto that number for dear life, because help is on the way.
