BBVA is expanding its Aqua card model into Latin America after successfully issuing one million dynamic CVV cards in Spain. The Aqua card enhances security by replacing the traditional CVV with a dynamic security code that updates randomly within the BBVA app every few minutes. This innovation helps to significantly reduce fraud and improve security for e-commerce transactions. Additionally, the Aqua card does away with the PAN number and expiration date, mitigating the risks associated with loss or theft.
The adoption of the numberless card, which is made from recycled plastic, has been remarkable. In Mexico alone, over one million Aqua cards have been issued since their launch in June. In Peru and Colombia, dynamic CVV technology has already been implemented, with plans to introduce data-free cards in the near future.
Jorge Moreno, BBVA’s head of digital payment solutions, comments, “With Aqua, we are not only enhancing our card offerings but also unifying the mobile experience for our customers across different regions.” He expressed satisfaction with the rapid rollout of the new card generation, which has occurred faster than anticipated while respecting the unique characteristics of each country.
The swift deployment can be attributed to the reuse and evolution of software and components, according to Moreno. He notes, “From the outset, the conceptualization of Aqua’s value proposition was a global effort involving local teams. This collaboration allowed us to work in tandem, enhancing our capacity and enabling us to reuse designs and developments.”