New cards will include a device that generates new numbers for transactions, replacing existing three-digit CVV security number.
London: Second World War cipher technology — such those behind Nazi military coding machines — may help develop next-generation ultra-secure credit and debit cards, scientists say. New cards will include a device that generates new numbers for transactions, replacing existing three-digit CVV security number.
Inventors David Taylor and George French have secured a patent for the technology that was inspired by the concept behind the design of Nazi military coding machines such as Enigma. Second World War encrypted communications worked on the basis of changing ciphers.
In a similar way, users of the new card will tap their PIN into a keypad mounted on the card which will create a range of security ciphers. The codes will be generated at a timed interval by a tiny clock and appear next to the signature strip. The new technology also signals the end of PIN-entry card readers, The Telegraph reported. Other features in the smart card include a contactless payment chip and either a wifi aerial or Bluetooth.
The hackers commonly target the CVV code by launching distributed guessing attacks, by spreading attempts to guess the code across more than 1,000 websites in just one or two seconds. The current static three-digit system, first used 20 years ago, is also vulnerable if merchants store the numbers after taking payment.