According to Finextra, "the system has helped BNZ cut the number of fraudulent transactions from cloned cards by 50%, prompting its Australian parent to take it up."
The "liquid encryption number" dynamically rewrites a card's magstripe data after each usage...
HOW IT WORKS
* Liquid encryption number technology means that the data - a series of numbers - stored on a card keeps changing.
* The data on a card's strip is rewritten each time the card is placed in an ATM.
* By the time criminals try to use the card, its data will have changed so it cannot be used in fraudulent transactions.
* The data on a card's strip is rewritten each time the card is placed in an ATM.
* By the time criminals try to use the card, its data will have changed so it cannot be used in fraudulent transactions.
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