PNC Pilots CVV2 Technology for Commercial Card Clients
PNC Bank Treasury Management, a member of The PNC Financial Services Group, has announced the pilot of Dynamic CVV2 technology for commercial card customers, working together with IDEMIA, Visa and TSYS. The pilot employs MOTION CODE technology developed by IDEMIA and based on Visa’s Dynamic CVV2 Specification, that automatically changes the three-digit security code appearing on the back of a credit card within a set amount of time.
The Dynamic CVV2 is displayed on an e-ink screen on the back of a card where the CVV2 normally is printed as a static security code. Building on the effectiveness of EMV chip technology in reducing card-present, counterfeit fraud at the physical point-of-sale, the Dynamic CVV2 card is designed to reduce card-not-present fraud.
If an EMV chip card with Dynamic CVV2 is compromised, any information is rendered virtually useless since the chip cryptogram protects against card-present compromise fraud and the dynamic CVV functionality protects against card-not-present compromise fraud when a merchant system requests and verifies the code. Dynamic CVV2 requires no change in cardholder or merchant behaviour. The cardholder simply uses the number displayed on the back of the card at the time of purchase
PNC Treasury Management expects to offer Dynamic CVV2 technology to current customers in early 2019, following completion of the pilot.