IDEMIA in partnership with BGFIBank launches for bank card with Motion Code
IDEMIA was selected by BGFIBank to launch the new Visa bank card in Gabon integrating Motion Code, a technology developed by IDEMIA ensuring security especially in Internet transactions and considerably reducing the risk of online fraud.
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 Code, the CVV2 becomes dynamic: the three 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.