PARIS - Wednesday, November 16th 2016 [ME NewsWire]
(BUSINESS WIRE)-- As a leading e-commerce bank1 in France, Societe Generale's priority is to continuously strengthen the security of online payments while making its customers' everyday lives easier.
Following successful testing among more than 500 people, Societe Generale is one of the first global banks to offer its retail customers in France these next-generation cards featuring a dynamic security code.
This innovative solution, OT MOTION CODETM, developed by Oberthur Technologies2, consists in replacing the 3-digit security code usually printed on the back of the card with a mini-screen displaying a new "dynamic" code which is refreshed automatically and randomly every hour3. Thus, if the card data gets stolen, the 3-digit security code becomes useless within an hour, preventing fraudsters from re-using the information on e-commerce sites. Designed to help fight cyber crime, this solution is also very simple as it changes nothing on the online purchasing process.
This option is available to Societe Generale retail customers in France holding a CB/VISA card (CB/VPAY, CB/Visa, CB/Visa Premier or CB/Visa Infinite) at a price of €12 per year, in addition to the card subscription.
Responding to the constant growth of online purchases, this next-generation card broadens Societe Generale's range of payment solutions, already the most comprehensive one in the market, both for e-merchant clients (3D Secure, One-Click, Paylib) and retail customers (Pass securité, e-carte Bleue).
ABOUT OBERTHUR TECHNOLOGIES
OT is a world leader in embedded digital security that protects you when you connect, authenticate or pay.
OT is strategically positioned in high growth markets and offers embedded security software solutions for “end-point” devices as well as associated remote management solutions to a huge portfolio of international clients, including banks and financial institutions, mobile operators and governments, as well as manufacturers of connected objects and equipment.
OT employs over 6,500 employees worldwide, including almost 700 R&D people. With a global footprint of 4 regional secure manufacturing hubs and 39 secure service centres, OT’s international network serves clients in 169 countries. For more information: www.oberthur.com
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Societe Generale is one of the largest European financial services groups. Based on a diversified universal banking model, the Group combines financial solidity with a strategy of sustainable growth, and aims to be the reference for relationship banking, recognised on its markets, close to clients, chosen for the quality and commitment of its teams.
Societe Generale has been playing a vital role in the economy for 150 years. With more than 145,000 employees, based in 66 countries, we accompany 31 million clients throughout the world on a daily basis. Societe Generale’s teams offer advice and services to individual, corporate and institutional customers in three core businesses:
Retail banking in France with the Societe Generale branch network, Credit du Nord and Boursorama, offering a comprehensive range of omnichannel financial services on the leading edge of digital innovation;
International retail banking, insurance and financial services to corporates with a presence in developing economies and leading specialised businesses;
Corporate and investment banking, private banking, asset management and securities services, with recognised expertise, top international rankings and integrated solutions.
Societe Generale is included in the main socially responsible investment indices: DJSI (World and Europe), FTSE4Good (Global and Europe), Euronext Vigeo (Europe, Eurozone and France), ESI Excellence (Europe) from Ethibel and 4 of the STOXX ESG Leaders indices.
For more information, you can follow us on twitter @societegenerale or visit our website www.societegenerale.com.
1. Societe Generale processes 1 out of 5 payments in France
2. For more information on OT MOTION CODE TM : www.oberthur.com/MotionCode
3. The screen is powered by a battery with a longer lifetime than the card’s
View source version on businesswire.com: http://www.businesswire.com/news/home/20161116005715/en/
Chloé Tisseuil, Tel. +33 1 86 21 50 54
FRENCH RETAIL BANK
Florence Amphoux, +33 (0)1 42 14 70 33