Ellipse Partners with Elo to Bring Dynamic Security Code Technology to Payment Cards in Brazil via EVC®
ELO Dynamic Security Card with EVC® technology automatically refreshes its security code during each point-of-sale transaction for enhanced fraud protection.
Ellipse and Elo team up to launch EVC® in Brazil, introducing battery-free dynamic security codes to prevent e-commerce fraud and enhance cardholder protection.
LATAM could be poised to have one of the highest fraud risk rates and Brazil being the region’s largest economy is not the exception. Much of the fraud risks stem from payment card fraud, ranging from stolen card data that is used for unauthorized ecommerce purchases (aka card-not-present fraud) to Caesarian fraud, a newer physical attack where a payment card’s EMV chip is punched out and replaced with an illegitimate chip that circumvents EMV security measures.
EVC brings EMV-based dynamic security code technology (dCVC/dCVV) to credit & debit cards via an embedded epaper display. EVC-Ready cards automatically change security codes every time a cardholder performs an in-person transaction at a point-of-sale or at an ATM. Also, cardholders can manually change on-demand their security codes at will by using an optional mobile app, simply by tapping their card on their smartphones.
A changing security code renders stolen card data useless on the black market, protecting cardholders from the rampant ecommerce payment fraud that Brazil, and the rest of the world, is currently experiencing. Additionally, EVC modules are tamper-evident, providing a crucial layer of physical security that protects against Caesarian fraud by making any physical compromise of the card immediately apparent and rendering the card unusable.
"Elo has been working in partnership with Ellipse on the certification of the EVC solution, with the goal of offering our customers a portfolio of products featuring cutting-edge security technology, capable of mitigating fraud and enhancing protection in online transactions.", said Leandro Marcelo Lucas, Product Director of Elo.
“We are proud to be partnering with a class-leading company like Elo to bring EVC technology to Brazil,” said Hector Sandoval, EVP LATAM of Ellipse. “Elo’s deep understanding of fraud prevention, commitment to innovation, and recognition of EVC’s unique ability to bridge physical and digital security, position them to set the benchmark of payment card security.”
About Elo
Elo is one of the leading Brazilian payment technology companies. Founded in 2011 with a focus on debit and credit cards, the company has since expanded its operations into other areas. With a proprietary and local technology platform that ensures greater agility and flexibility to meet customer needs, Elo operates through a comprehensive network of cardholders, merchants, acquirers, and issuers to support businesses in their payment demands in Brazil and around the world.
With the mission of promoting digital payment inclusion in Brazil, Elo offers a variety of payment products for all types of individuals and businesses, including a complete portfolio of credit, debit, prepaid, specialized, and benefit cards. With a Brazilian and innovative DNA, Elo also provides customized solutions for companies, whether through tokenization and fraud prevention platforms, contactless payments via QR Code and NFC, or data consulting services specialized in generating more business for its partners.
About Ellipse
Ellipse World, Inc (“Ellipse”) is a Los Angeles-based fintech company that defines the latest advancements in payment card technology. Ellipse’s mission is to make payments safer in a digital world and to create simple solutions that address the world’s needs. Ellipse developed the new standard in card security: EVC dynamic security code technology. Comprised of leading payment technology experts who are committed to creating new value for the payment industry, Ellipse is present across the United States, as well as in Europe, Asia, and South America.
Laval Law
Ellipse World Inc
+1 424-298-8284
email us here
Distribution channels: Banking, Finance & Investment Industry, Business & Economy, Companies, Culture, Society & Lifestyle, Electronics Industry, IT Industry, Manufacturing, Technology, World & Regional ...
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
Submit your press release