MOBILE SECURITY: Westpac is adding dynamic CVVs to the Android version of its updated banking app
Customers of Australia’s Westpac bank with an Android smartphone will soon be able to make payments using a digital card secured by a dynamic card verification code (CVC) that changes every 24 hours.
The bank is adding the security feature to the Android version of its updated banking app that it released for Apple users earlier this year and will roll it out to customers with a smartphone running Android 10 or above “over the coming weeks”.
“Westpac offers customers a market-leading digital card security feature through our dynamic CVC, which issues a new temporary code every 24 hours via the app to help protect customers from fraud when shopping online,” Westpac’s Chris de Bruin says.
“Since launching the app we have seen a 178% increase in digital card usage, and customers viewed the dynamic CVC more than 400,000 times each month.”
“Mobile has become the channel of choice for customers, with more than 84% of consumer and business digital banking taking place on a smartphone or tablet,” de Bruin adds.
“Since first introducing the new app for iPhone, we’ve seen strong uptake with 700,000 daily users and more than 90,000 customers using our Smart Search feature each week.”