SECURITY CARTES 2015 One simple idea to fight online fraud: Introducing the payment card with dynamic security code Elena Vuevskaya Sales Director Banking, Russia & CIS, Gemalto T 44 As ecommerce grows, so does online fraud. <...> But the new Dynamic Code Verification solution from Gemalto, with its changing security code, is set to quell cyber theft. hink back to your last on line purchase. <...> Did you think to yourself, I really do not want to put my card details online, and ditch your cart all together? 10 2015 SECURITY Spesial Issue If you did, you are not alone. <...> Well, some just get distract ed or find other offers, but most of us are worried about online fraud. <...> These fears are hardly unfound ed. Frauds while doing payments over the Internet, so called card notpresent (CNP) payments, ac count for 66% of the total value of all card frauds. <...> In 2013 a stagger ing 958 million euro was lost to CNP fraud in the Single Euro Payments Area (SEPA). <...> Still, eCommerce presents a tempting prospect — do all your shopping with a few simple clicks and get everything conveniently delivered to your doorstep. <...> According to a re cent survey among 1,000 Internet users, 81% of respondents have paid for purchases on the web. <...> Fortifying the weakest link While EMV chip and PIN cards wipes out fraud at the pointofsale, hack ers will continue to find the weak est link in the payments chain, shifting their attention away from the physical to online purchases. <...> In order to secure the cardnot present (CNP) channel, something has to change. <...> This is where the Gemalto Dynamic Code Verification (DCV) smart card co mes into play. <...> Instead of a printed Card Verification Value or CVV code — also known as ‘the three digit number on the back of your card’ — the DCV card has a small screen which display a code that changes every twenty minutes. <...> Such a simple idea can maintain a fa miliar experience for consumers and greatly increase the security <...>