The following describes the future EMV chip cards, with multi-level security and enhanced usability and card functionality - sensor based secure display Cards.
Prepared by JP Sistech
What is multi-functional display Card?
It is a smart chip card embedded with multiple functionalities capable of sensing the biometric, fingerprint, enable the blue-tooth synchronization.
The EMV chip operates when the sensor validates and authenticates. The card will be powered on after sensors' verification match-on-card. It may or may not include the system verification, depending on the customised requirements.
It saves issues' cost of fraudulence, as well as provides end users with advanced security.
Multi-level security authentication also includes mobile application, hence extending and match the advancing security implementation end-to-end.
What are the market segments?
- It is meant for the de facto standard of the enhanced EMV payment or ID cards.
- It utilizes the consumer mobile-centric technology to implement the multi-level authentication to minimize the fraudulence.
- It is all backwards compatible to the existing terminal infrastructure.
- Market segments include services providers, Telco, Banks, identification.
For Telco,
- Telco sees the opportunity to provide secured payment within and outside of the mobile phone, being multi-level authenticated cards.
For Service providers like eCommerce,
- Service providers enhance the transition through the secured security financial cards outside of mobiles. The strength relates to the multi-level authentication of cards.
For Card Issuance,
- Traditionally, banks and service providers are card issuers.
- It has always been third party payment and clearing company who provides the cards with limited liability. The market has shifted. Banks who are interested are taking up liability to provide the solution. Indeed, they are taking the position that the cards are highly secured through system end-to-end implementation.
What are the certifications to the multi-functional display cards?
- It is in progress to attain any EMV third party, like Visa, Master and so on, certification.
- The EMV chips and their personalization are adhering to the strict security standards according to EMV.
