Linxens and Ellipse, on 26 November, announced the introduction of the battery-free electronic verification (EVC) solution for payment cards.

The technology uses a small bi-stable screen on the card in the same position where the standard, static security code is usually printed. In particular, the display is powered up and updated with a new security code each time the card is used in an EMV transaction. This renders a stolen card useless.

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Card-not-present (CNP) fraud is an attempt to make a fraudulent card purchase in the absence of the physical card. It typically occurs over the phone or online.

As a result, to protect themselves against this far-from-uncommon fraud, many online merchants require the card security code. This is the three- or four-digit printed on the front or reverse of the card. Once this number is compromised, however, this requirement becomes an ineffective deterrent.

This scam is what Linxens and Ellipse’s innovation is designed to prevent. Paris-based Linxens is a technology company providing component-based solutions for secure connection and identification. Ellipse is a Los Angeles-based fintech company, inventor of the Ellipse Core technology used in secure CNP transactions.

Lower card-replacement costs and fewer false declines

The solution provides a frictionless experience for cardholders. It’s also transparent to merchants, providing both them and issuers with dynamic data during an ecommerce transaction. This ensures that a CNP transaction is legitimate and reduces the number of false declines.

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It also reduces the costs of card replacements due to stolen data and fraud management.

Payments employing EVC technology are fully compatible with existing POS terminals and ATMs. Linxens EVC-Prelam integrating Ellipse battery-free display technology is compatible with existing hot-lamination processes equipment, as well as with all standard card features (embossing, magstripe, hologram, etc.).

The Linxens EVC-Prelam is an industrialised solution which enables volume deployment of this new technology via traditional card manufacturers.

The technology also provides issuers the choice to implement the verification service based on their specific needs and requirements.