Giesecke+Devrient (G+D), a global leader in secure payment technologies, has unveiled its latest innovation for the Indian market—the Convego® SecureCode payment card, aimed at enhancing fraud prevention and securing digital transactions.
The newly launched card introduces a dynamic card verification value (CVV), addressing the growing threat of card-not-present (CNP) fraud, which currently accounts for nearly 70% of all fraudulent credit card transactions. These scams typically involve stolen card details being used for unauthorized online purchases, posing significant financial risks and eroding consumer trust. Industry estimates project global payment fraud losses could reach nearly $50 billion by 2030.
Traditional payment cards rely on a static CVV printed on the reverse side, making them vulnerable once card details are compromised. G+D’s Convego SecureCode card features an e-ink display that generates a new verification code for each transaction, whether conducted online, via contactless payments, or at physical terminals. Users can also refresh the code on-demand through their mobile banking app.
The card does not require any external power source, batteries, or additional applications. Its battery-free EMV module ensures long life and seamless usability, preserving the frictionless payment experience both consumers and merchants expect.
“Convego SecureCode is a smart leap forward in securing digital payments without compromising user convenience,” said Mikko Kähkönen, Head of Payment Cards Portfolio at G+D. “Banks now have a future-ready solution to protect their customers and reduce fraud while offering a seamless experience.”
With digital transactions surging across India, the introduction of the Convego SecureCode card marks a key step in modernizing payment security, offering banks and financial institutions a reliable tool to safeguard customers and reduce exposure to fraud-related losses.
