IDEMIA, the global leader in trusted identities for an increasingly digital world, today announced the milestone of 1 million MOTION CODETM online transactions with SociÃ©tÃ© GÃ©nÃ©rale.
SociÃ©tÃ© GÃ©nÃ©rale was one of the first banks worldwide to launch MOTION CODEâ¢, the next-generation card integrating a dynamic security code by IDEMIA (formerly known as OT-Morpho). This solution consists in replacing the 3 digits of the cryptogram printed on the back of the card with a small screen displaying a new âdynamicâ code every hour. Thus, in case of piracy of the bank cardâs data, the 3 digits of the cryptogram quickly become obsolete, preventing fraudsters from reusing data, especially on e-commerce sites.After successful testing among more than 500 people in 2016, SociÃ©tÃ© GÃ©nÃ©rale started offering MOTION CODEâ¢ to all their French customers early 2017. In less than 10 months, the results illustrate this incredible commercial launch, existing customer and new customerâs adoption. In brief:
- Significant milestone: 1 million online transactions made with the dynamic cryptogram card
- Massive adoption: more than 200 thousand cards issued
- Attractive offer: 8% of Motion Code cards are newly issued cards
- The best launch of SociÃ©tÃ© GÃ©nÃ©rale cards ever
"SociÃ©tÃ© GÃ©nÃ©rale is very proud to be the first bank to offer to all its customers this innovative solution that reinforces the security of online transactions. As it does not change customer habits, it is very easy for them to adopt it and we have seen strong customer demand. SociÃ©tÃ© GÃ©nÃ©rale as one of the leading e-commerce banks in France, wants to continue to strengthen the security of online payments while making our customersâ everyday lives easierâ, said Philippe Marquetty, SociÃ©tÃ© GÃ©nÃ©rale, Head of payment and cash management products.
âIDEMIAâs main concern is to help banks make their customersâ lives more secure and convenient: with MOTION CODEâ¢ we are fully answering this mission, by securing CNP transactions and decreasing the cases of fraud. End-users feel more secure and can e-shop with no worries and no change. This project carried together by SociÃ©tÃ© GÃ©nÃ©rale and IDEMIA has confirmed MOTION CODEâ¢ value and leadership worldwide. MOTION CODEâ¢ also helped SociÃ©tÃ© GÃ©nÃ©rale stand out among consumers with an innovative productâ, said Eric Duforest, Executive Vice-President, Financial Institutions business at IDEMIA.