SYSTEMS AND METHODS FOR GENERATING A DYNAMIC CVV AND/OR PIN
2024
Online
Patent
A system and method for generating a dynamic Card Verification Value (CVV) code or Personal Identification Number (PIN) code. When a user wishes to perform a financial transaction with a merchant, a mobile application associated with a transaction card generates a dynamic CVV or PIN based on a timestamp, a fixed code and personal user data. The user supplies the received, dynamic CVV or PIN to the merchant. The merchant sends a transaction record of the financial transaction to a clearing server of a financial institute associated with the transaction card. An authentication module within the clearing server, verifies and authenticates the dynamic CVV or PIN and replaces it with the original, fixed CVV or PIN for validation of the financial transaction.
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SYSTEMS AND METHODS FOR GENERATING A DYNAMIC CVV AND/OR PIN
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Veröffentlichung: | 2024 |
Medientyp: | Patent |
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