OFBank mobile banking app’s newest feature, the digital Card Verification Value, was designed both for convenience and for the protection of cardholders from online fraud and theft. 11 November 2022, Manila, Philippines - The Overseas Filipino Bank (OFBank) is stepping up efforts to protect its clients from fraud by providing a digital Card Verification Value (CVV) beginning October 2022, a feature that will beef up the security of cashless payments and other transactions done via the OFBank mobile banking app. Normally present in physical debit and credit cards, a digital CVV is a bank’s specific algorithm that provides the account number, expiration date, data encryption standard (DES) keys, and a three-number service code. This feature further enhances safety and security measures adopted by the bank to neutralize increasing online fraud and other emerging cyber threats, amid the continuing consumer shift to online financial transactions. This newest feat...
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