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Ellipse, the creator of the EVC® All-In-One EMV integrated dynamic security code micromodule, joins the MULTOS Consortium
London, UK – 4th April 2023 – The MULTOS Consortium, a group of international blue-chip organisations responsible for the promotion and development of MULTOS technology, announced today that Ellipse World, Inc. (Ellipse), the creator of the EVC® All-In-One dynamic card security code EMV micromodule for payment cards, has joined as a partner member. This latest generation of drop-in replacement EMV micromodule transforms a basic payment card into a full-fledged e-Commerce security product. The EVC (Ellipse Verification Code) All-In-One module integrates a built-in screen that displays a refreshed security code (known as CVV/CVC) every time the card is dipped or tapped at a physical terminal, ATM, or mobile phone. This is a breakthrough innovation that makes stolen card information useless for fraudulent online payments.
MULTOS is a proven digital security technology for smart devices providing high security and flexibility. MULTOS protects smart cards for payments and identity, wearables, and other connected devices. The Consortium is comprised of successful global companies respected in their fields of secure payments, identity, IoT and digital security, forming the beating heart of the MULTOS eco-system. As a member, Ellipse will be able to participate in the MULTOS Business and Technical Architecture Groups allowing them to contribute towards the development and growth of MULTOS whilst also benefiting from the Consortium’s marketing, technical, and networking resources.
Ellipse is a FinTech company led by payment technology experts committed to creating new value for the payments industry. Renowned for their innovation in smart cards with displays, Ellipse pioneered the world’s first EMV integrated, battery-free, dynamic CVV/CVC solution for payment cards. The revolutionary EVC technology generates a new 3-digit card security code every time the card performs a Contact or Contactless EMV transaction or by an NFC equipped smartphones through the card Issuer’s mobile app. The new security code can be used immediately for any subsequent card-not-present or online transaction; the next physical transaction will change the code again. This creates a unique data loop between the cardholder and their bank, minimizing False Declines and eliminating card-not-present fraud.
Cyril Lalo, CEO of Ellipse said “EVC is groundbreaking and was designed for the entire payment ecosystem. It is easy to produce EVC-equipped cards with existing processes and Dual-Interface card manufacturing equipment. By leveraging existing EMV rails, it is an easy-to-deploy solution for processors and issuers, transparent to e-merchants, and easy to use by consumers. We are proud and excited to have MULTOS part of our EVC All-In-One EMV Module offer. We are delighted to join the established global MULTOS Consortium and look forward to collaborating with the MULTOS community to bring significant value and innovation to the payments industry.”
“MULTOS has a long heritage in enabling secure payments around the world, making it an ideal solution for advanced payment technologies. As a Consortium, we are committed to supporting and harnessing technologies that bring true value,” said Natsuko Callan, Commercial Manager of the MULTOS Consortium. “Ellipse is a clear leader in driving compelling innovation to the payments industry and is a welcomed partner to the MULTOS Consortium. Their expertise, knowledge and passion for advanced payment technologies is an invaluable addition to our eco-system and we look forward to working closely together to further enhance the offerings of both Ellipse and MULTOS.”
Ellipse World, Inc. (“Ellipse”) is a Los Angeles-based FinTech company that defines the latest advancements in smart card technology. Ellipse collaborates with a host of industry leaders to address the global payment ecosystem’s needs. Ellipse also strives to make digital payment safer in a digital world by introducing the natural evolution of smart cards. Ellipse is known for creating the EVC All-In-One EMV smart card module. EVC (Ellipse Verification Code) is the new standard in payment – a technology that generates a Dynamic Card Security Code (or Dynamic CVV/CVC) during every Contact or Contactless card-present transaction. Comprised of leading payment technology experts who are committed to creating new value for the payment industry, Ellipse has offices across the United States, as well as in Europe and Asia. For more information, visit www.ellipse.la
Contact: Laval Law
MULTOS is the most robust, industry-backed high security smart card platform, delivering simplicity and innovation to the world’s leading card and e-passport issuers. With a figure in excess of 2 billion issued smart cards and smart devices across more than 50 countries, thousands of issuers, including national governments, banks, corporate enterprises and transit authorities have taken advantage of the high security, multi-application platform for their deployment programmes. A wide range of applications including, EMV payment, contactless payment, authentication, digital identity, biometrics, loyalty and mass-transit ticketing, and connected and IoT smart devices may implemented, and co-reside, using a MULTOS powered chip. For further information, visit www.multos.com
Contact: Vidisha Nayee