IDEMIA, the global leader in trusted identities for an increasingly digital world, was selected by BGFIBank, the top bank in Central Africa, to launch the new Visa bank card in Gabon integrating MOTION CODETM, a technology developed by IDEMIA ensuring optimal security especially in Internet transactions and considerably reducing the risk of online fraud.
As a reference player in the African banking landscape, the BGFIBank Group has always been a pioneer in the adoption of new technologies in order to offer its customers the most innovative and secure solutions on the market. It is therefore quite natural that BGFIBank chose the expertise of IDEMIA (formerly known as OT-Morpho) to offer its customers high-tech payment cards for the first time in Africa. The adoption of this innovative solution is intended to secure online purchases made by its customers.
Traditional payment cards have a static cryptogram (CVV2) used to pay online and printed on the back of the card, next to the signature pad. If stolen, this code, as well as the card number (PAN
) and the expiration date, may be used to make fraudulent online purchases. With MOTION CODETM, the CVV2 becomes dynamic:
the 3 digits are permanently displayed on a mini-screen integrated in the card, but automatically change every hour. Thus, the codes stolen unbeknown to the cardholder quickly become unusable online by a fraudster.
“BGFIBank is the first bank to deploy MOTION CODE™ in Africa, but also in the Middle East. IDEMIA, as a privileged partner of BGFIBank, is very proud to launch this first VISA card with dynamic cryptogram, which guarantees an optimal level of security for online payments,”said Muzaffar Khokhar, President of the Middle East and Africa Region at IDEMIA.
“The launch of Motion Code in our Group is part of the digital strategy that BGFIBank is deploying. The primary objective is to provide our customers with a unique digital experience through innovative tools with real added value. It is therefore with confidence that we, as pioneers, are adopting this innovative technology, the most secure of the market, for the first time in Africa. We are convinced that our collaboration with IDEMIA will enable us to optimize our payment solutions for the Group’s customers,” said Henri-Claude Oyima, CEO of the BGFIBank Group.
BGFIBank and IDEMIA have celebrated their partnership and the launch of this new card during an event in Libreville (Gabon) on October 19, 2017.Source: BusinessWire India