The state-run Krungthai Bank has launched a new translucent, numberless credit card without a magnetic stripe, visible CVV number or expiration date.
An executive of the bank offered an assurance that the new credit card is safe and helps to solve the problem of credit card fraud.
To use the new credit card, he explained that card holders will have to use their cards in combination with the associated mobile application and will be required to enter the CVV code. Each CVV code is only valid for 24 hours and the card holder will have to ask for CVV codes from their credit card issuer.
Through this slightly complicated process, the bank executive said, if a credit card is lost or stolen, it cannot be used to buy goods or services.
It is reported that the Bangkok Bank has already introduced a new debit card, which does not have a magnetic stripe, and card owners can choose the data on their cards, such as no 16-digit number or CVV code.
