NBF introduces CVVkey solution to curb online card fraud

NBF introduces CVVkey solution to curb online card fraud

National Bank of Fujairah (NBF) has introduced CVVkey, a proven solution to online card fraud that can be used across all credit and debit cards issued by the bank.

CVVkey will be a key element in NBF’s efforts to improve cybersecurity across its operations and protect its customers from fraud and other online threats.

Even cardholders who never use their cards online can be victims. CVVkey solves this vulnerability by replacing the 3-digit CVV code on the back of the card with a dynamic CVV code that changes throughout the day that is easily accessed through the CVVkey app on the cardholder’s phone.

Every few hours, the CVVkey app provides a unique 3-digit dynamic security code for each card enrolled in the service. Whenever the three-digit security code on the back of the card is requested, the cardholder simply enters the fresh code from the app on their phone.

Thanks to the dynamic nature of the security code, if the card is ever compromised or stolen, unauthorized online purchases will be denied. Recurring payments such as subscriptions, where the merchant has the card details on file, are not affected by switching to CVVkey. Pre-existing payments will continue to be taken, and any new recurring