Wisecard's new release enables Financial Institutions to effortlessly integrate and deploy dynamic Security code cards
HONG KONG, CHINA, December 2, 2024 /EINPresswire.com/ -- Simplifies the implementation and deployment of on-card dynamic security codes, enabling swift and seamless integration.Strengthens leadership in combating escalating e-commerce fraud that surpassed $48 billion globally in 2023, by delivering the most advanced and secure payment card protection available.
Wisecard, a leading solution provider focusing on payment innovation, financial innovation, intelligent data, and Internet-of-Everything application platforms, announced the integration and availability of EVC dynamic card security code processing capabilities within its ABC platform. This advancement is made possible through a partnership with fintech company Ellipse World, Inc. (Ellipse), further enhancing security and convenience for cardholders. This integration enables Card Issuers to effortlessly and rapidly deploy cards with dynamic security code (DCVV/DVCV), providing unparalleled protection for e-commerce payment transactions. With this advancement, Issuers can now not only support both contact and contactless transactions but also provide the highest level of security to protect shoppers online with the most advanced payment card technology available.
What is EVC?
Features and Benefits for Issuers and for their cardholders
EVC (Ellipse Verification Code) is a class-leading fraud prevention technology, bringing a dynamic security code to replace the static CVC/CVV codes on today’s credit & debit cards. The EVC All-In-One micromodule by Ellipse is a drop-in replacement that replaces the standard EMV chip, and includes a digital ePaper display that transforms traditional cards into full-fledged security devices. Each time an in-person contact or contactless card transaction is initiated, the card generates and displays a new security code on the screen. This changing security code eliminates fraudulent card-not-present transactions by effectively safeguarding the card information from theft by malicious actors, and simultaneously reduces false declines by providing a trusted data point.
“We’re incredibly excited to now be able to offer EVC processing to our clients around the world,” said Wisecard Vice President Kevin Yi. “The collaboration with Ellipse on this project has been so easy, and the plug-and-play nature of this technology to all payment cards makes this technology a no-brainer for every card issuer who wants better security with minimal tech investment.”
Wisecard is always at the forefront to offer the most advanced and beneficial solutions/technologies.
“Our goal at Ellipse is to make payments more secure for everyone, everywhere and partnering with Wisecard is a leap forward for Ellipse and EVC towards this objective,” said Cyril Lalo, co-founder and CEO of Ellipse. “It brings our key fraud prevention technology to the of Asia, empowering banks and other financial institutions that work with Wisecard to protect their cardholders with the latest and greatest technology.”
The partnership between Wisecard and Ellipse demonstrates the forward-thinking nature of Wisecard, to invest into the future of payment protection; as well as its dedication in offering its clients the best resources the market has to offer.
The EVC-Ready processing ability by Wisecard will be on demonstration during Trustech in Paris (December 3-5). Ellipse will be exhibiting at booth E005 and Wisecard will be located at G021.
KEVIN YI
Wisecard Technology Co., Ltd.
+86 755 8600 7346
Wisecard and Ellipse have launched EVC® dynamic security code processing in Asia, enhancing payment security for financial institutions. This technology replaces static CVV codes with dynamic ones, displayed on a card's digital ePaper screen, ensuring robust protection against fraud in online transactions. The integration simplifies implementation, enabling swift adoption by card issuers. Wisecard’s innovative approach underscores its commitment to advanced payment solutions, echoing precision akin to crafting an embroidered varsity jacket, combining security and style seamlessly for modern demands.