Nazi WWII Encryption Technology could create Ultra Secure Debit and Credit cards of the Future

We frequently use debit and credit cards to carry various day to day transactions. However, there are many instances that came to light which highlighted the flaws that resulted in the loss of huge amounts associated with these cards. Even though the banks are coming with new security features the fraudsters are finding new ways to obtain funds from your account without your authorization.

Now a new technology to produce cards have been in place that replaces the three digit CVV number system.  Nazi WWII encryption technology decoded by  British mathematician Alan Turing from  German's Enigma encryption machines, will be used to create ultra-secure encryption Debit and credit cards.

How this Technology can be used for the creation of Ultra-secure encryption cards?

Encryption technology during second world war depended on frequently changing cyphers. A cypher is nothing but a code that contains a hidden message. Using enigma machines Germans generated a number of new cyphers, having endless safer codes and were successful in hiding secret messages. As soon as one cypher was decoded by the opposition another code will replace it. All the new credit and debit cards developed by this technology will have a machine integrated into to them based on enigmas encryption technology. The machine regularly generates new three digit number combinations instead of static CVV that exists in the present cards. It is also said that the Smart cards also possess contactless payment chip and even Wi-Fi or aerial blue tooth.

Inventors George French and David Taylor were granted patent and Banking giant Barclays is looking forward to adopting the technology. The cards developed using this technology, will have a keypad attached to the card and you have to enter the PIN. Then the card generates an array of codes next to the signatures strip and will be repeated after a particular time interval.

According to report by Business wire Global card fraud damages recorded ($16 billion) in 2015 in and estimated to exceed $35 billion by 2020. The attackers guess the CVV code in random attempts across thousands of websites in less than few seconds. But with this technology, it is literally impossible to decipher the code.

Source