Network International , the leading payment solutions provider in the Middle East and Africa (MEA) and OT (Oberthur Technologies), a leading global provider of embedded security software products and services, today announced their partnership to offer to banks in the MEA region OT’s dynamic cryptogram payment card to secure online transactions – OT MOTION CODE(TM) solution.
Network International selects OT’s MOTION CODE(TM) solution to secure online transactions in the Middle East & Africa. Picture from Cards & Payments Middle East trade show, with Frdric Beylier, Chief Operating Officer at OT, Bhairav Trivedi, Chief Executive Officer at Network International, Eric Duforest, M-BU Managing Director Financial Services Institutions at OT and Muzaffar Khokhar, Regional President for Russia, Middle-East and Africa at OT (Photo: Business Wire)
The OT MOTION CODE(TM) solution provides an extra layer of security for Card-Not-Present (CNP) transactions (ecommerce transactions via telephone or Internet for instance). The technology replaces the static 3-digit security code usually printed on the back of a card, by a mini screen that displays a code, which is automatically refreshed according to an algorithm, typically every hour.
For the cardholder, the solution is fully transparent: no plug-in to install on their web browser, no button to press, the code appears at the same location on the card, the key benefit being the code’s dynamic generation and periodical refresh. The refresh timing is defined by the card issuer, for instance each hour. For issuers, a specific server synchronized with the algorithm and refreshing rules defined in the cards is needed and supported by OT’s offer.
Today, millions of ecommerce transactions are processed by Network International every year. In order to help banks to increase trust in online transactions and reduce online fraud, Network International has added OT MOTION CODE(TM) solution to its fraud management products portfolio.
OT MOTION CODE(TM) solution will be showcased on OT’s booth (E20) during Cards &Payments Middle East in Dubai (May 31 – June 1)
Network International is a Principal Member of Visa International and MasterCard International in the UAE and enjoys extension of its MasterCard License in other key countries. It is also a member of JCB and Union Pay card schemes, and it owns and manages the Diners Club International Franchise in the UAE, Egypt, Lebanon and Jordan. In 2013, the company launched a GCC based domestic scheme, Mercury, and partnered with Discover Financial Services (DFS) to allow global acceptance of Mercury cards on the Discover, Diners Club International and PULSE networks. Network International, a Payment Card Industry Data Security Standard(PCI DSS) certified company, is also a major player in the international remittance industry and owns a 100 per cent stake in TimesofMoney Ltd., a leading global online remittance and digital payments company facilitating cross-border remittances and domestic payments in emerging economies.
OT is strategically positioned in high growth markets and offers embedded security software solutions for “end-point” devices as well as associated remote management solutions to a huge portfolio of international clients, including banks and financial institutions, mobile operators, authorities and governments, as well as manufacturers of connected objects and equipment.