Card-not-present (CNP) fraud significantly impacts merchants, especially in e-commerce, with most of the financial liability falling on retailers. Solutions like Safecypher’s dynamic security code use temporary CVVs visible only in secure banking apps, offering two-factor authentication at purchase and preventing unauthorized use even with stolen card details. Results from the Irish Post Office show this approach eliminated CNP fraud when adopted by customers.
https://www.marketingtechnews.net/news/cnp-fraud-foiled-by-banking-app-mfa/