DBBL offers the most secure credit card in the market. A credit card offers greater flexibility for international travel in locations which do not accommodate DBBL Debit Cards. But a credit card is inherently less secure unless it is a Nexus EMV credit card. The reason why DBBL entered the credit card market at such a late stage is because it did not want to compromise your security until DBBL itself implemented Nexus EMV technologies. All credit card DBBL issues are Nexus EMV credit cards.
Brief Detail of How Nexus EMV Works
Normal cards use a magnetic strip at the back of the card. The information and security on that magnetic strip is stationary and does not change. Hence it can be easily duplicated. But Nexus EMV's processor uses its processor to fully digitally lock all the information. It prevents the information from being copied as the processor 'generates' security codes rather than store it. It is a form of encryption.
But Nexus EMV goes even further. Visualize a series of locks and keys. Every lock has a corresponding key. Your account at DBBL has a digital lock, while your Nexus EMV card is a digital key to access it. When a fraudlent card tries to access your account, DBBL knows that the correct digital key is not presented and denies access. Further more, DBBL replaces the account lock every second. But because a genuine Nexus EMV card can generate the correct key using the processor, it can access open the account lock at that very moment. The next instance DBBL changes the account lock again, and your Nexus EMV card has to generate the key again using its unique processor.
The Nexus EMV system also prevents one Nexus EMV card from accessing another Nexus EMV card. This is because all processors are unique. All Nexus EMV cards generate keys differently and DBBL is aware of all the differences and knows which card is which so they can access only their authorized accounts. However this was just a brief overview how your Nexus EMV card works. The detailed workings are more secure and even more revolutionary.
DBBL pioneered Mobile Banking in Bangladesh. It was the first bank to offer banking faculties through a wide range of mobile phones. SMS (Short Messaging System) is an extremely unsecured method to do mobile banking.
DBBL recommends you use a HTML browser found on many phones to access internet banking facilities. The mobile phone networks are unsecured and there is nothing DBBL can do but to take precautionary steps. Unlike DBBL ATM's, POS and branches mobile networks and SMS is not encrypted and do not have advanced security features of the DBBL electronic banking infrastructure. To make the most of this unsecured scenario, DBBL issues you a mobile PIN number which is different from the DBBL pin number for your mobile transactions. Not under any circumstances is the DBBL PIN number to be used in mobile banking.
A different PIN number and a mobile transaction limit imposed by DBBL provides some security (but not all) over the unsecured phone network. Clients should be aware and cautious that although DBBL does its best, it cannot guarantee full security over a phone network it has no control over.
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