These days, people can never be too careful when it comes to protecting their financial information. This is especially true in the online world, where shopping and paying bills over the internet leaves even the most secure sites vulnerable to hacking from malicious third parties who are interested in stealing others' information.
In an effort to combat this cyber crime, technology companies around the world are always developing new and more advanced ways to protect credit card information. Earlier this week, CNN reported on a French company that has created a way for the security code on credit cards to change after a short period of time.
The French company, Oberthur Technologies, created a mini ink screen that is powered by lithium-ion batteries the size of a postage stamp that is designed to last up to three years. Using this battery, the three digit CVV security code on the back of all credit cards will automatically change after a period of 40 to 60 minutes.
What this does is render any information taken by another person obsolete, as the numbers they collect about your credit card will be useless before they have a change to inflict real damage onto your bank account. The computer chip randomizes the numbers, so there will be no way to predict what the code will be when it changes.
Engineers working for Oberthur Technologies have found a way to get the chip small enough to fit into the 0.76-milimeter thick card. If this technology proves successful and catches on, CNN reports that it could be commonplace in the banking world by 2017.
If you own your own business and are in need of credit card processing software to better protect your customers' finances, be sure to contact 911 Software today.