By 
Fintech security company Ellipse has launched the EVC All-In-One, the first EMV module that transforms a basic payment card into an ecommerce EMV security product.
The patented EVC All-In-One module features a built-in screen that displays a refreshed seurity code (also known as CVV/CVC) during every contact or contactless EMV transaction. This functionality renders stolen card information unusable for fraudulent online payments.
The EVC All-In-One is a single component, 8-pin EMV drop-in replacement module embedded in payment cards, with a 3-digit display on its back. This solution enables all card manufacturers to mass produce ecommerce-ready cards using their existing equipment and is compatible with most common card construction types (PVC, Metal, recycled plastic, etc.). This is the first module that allows card issuers to offer payment cards with protection in contact, contactless and ecommerce environments, while maximising card life and reducing card replacements.
The product has been designed specifically for ecommerce protection by extending card-present EMV security protocols to online transactions. Moreover, since it uses existing EMV rails, issuer processors can easily, within two weeks and with minimal investment, integrate EVC Dynamic Security Code verification in their existing HSMs with no additional server/software. This approach to tackling CNP fraud is particularly suited for processors, as they can offer this new service to their clients.
Comments