This Theftless Credit Card Generates a New CVV Code Every Time You Use It
Coming soon to a wallet near you
Banks are getting robbed.
Not at gunpoint, like they did in Heat. Not by phone, like that example Pumpkin gives at the beginning of Pulp Fiction. Not at the ATM, the same way a young John Conner did it in Terminator 2.
No, banks these days are being held up on the newest frontier — the Internet. A whopping 65 percent of theft and fraud now takes place online. But Oberthur Technologies, a French security firm, has a fix for this: Motion Code, a card that automatically generates a new, random security code every time you use it.
To generate new numbers every hour, OT will house a razor-thin lithium battery inside every card that lasts three years, which is when you’ll need to have it replaced anyway. It syncs with e-commerce sites, and if the info is stolen, it becomes useless after just one hour.
The downside is that you can never memorize your security code for faster transactions. The upside is you won’t have to spend time on the phone disputing charges.
OT hopes to roll out the technology later this year.
Banks wish it was sooner, we’re sure.