1) Could you describe your company as well as the products and solutions you will be presenting at TRUSTECH 2023?
Ellipse is an LA-based FinTech company shaping the future of smart cards. Our mission is to address the payment ecosystem’s varied needs and to make digital payment safer. Ellipse invented EVC® (Ellipse Verification Code), the technology that generates a dynamic security code during every contact or contactless card-present transaction. The EVC solution bridges physical payment cards and the digital realm. Ellipse will be presenting the EVC All-In-One™ battery-free EMV micromodule and payment cards from partner card manufacturers equipped with EVC technology at Trustech 2023.
2) What current trends do you think provide opportunities for your company?
The payment industry is grappling with a rise in e-commerce. This changing payment climate presents barriers to secure and frictionless payment for all. Ellipse believes that the future of payment must be free from fraud, false declines, and the frictions and restrictions of digital-only solutions; EVC technology is a natural solution.
The payment industry has embraced EMV, and the logical next step is to extend EMV protection to e-commerce - while keeping the same rails and the same ease of use. Ellipse believes that the rise of e-commerce is an opportunity for our product, which should be mandated on all EMV payment cards for seamlessly protected digital transactions.
3) Why did you choose to participate in TRUSTECH 2023? Will you be presenting innovative or new products or solutions there?
Ellipse attends Trustech every year. Our team has found that Trustech attracts the right audience: major players in global innovative payments. This, coupled with Trustech’s superior execution and professionalism, has brought such value to our business in the past years that we’ve made the decision to be an exhibitor at Trustech 2023.
Ellipse will be presenting EVC technology at Trustech 2023. EVC is the natural evolution of EMV, bringing EMV-grade protection to all payment cards for digital and e-commerce use. EVC is a dynamic security code that replaces the static 3-digit security code usually printed on the back of payment cards. EVC-equipped payment cards integrate a small screen that displays the security code, which changes every time the card is tapped or dipped at a Point Of Sale (POS) terminal or ATM. The new security code can then be used for any subsequent Card Not Present (CNP) or online transaction; The next time the card is tapped or dipped, the code changes again. This changing code generates an extra layer of security against CNP fraud and eliminates false declines. EVC technology is integrated into payment cards with a battery-free EMV micromodule. EVC modules are easy to manufacture and integrate into cards, as they leverage existing EMV rails. EVC is a simple, sustainable, and accessible solution that makes payments frictionless and secure in a digital world. This year at Trustech, Ellipse is proud to present an updated version of EVC technology that includes an option to clear the e-paper screen on the back of the card, effectively hiding the card’s security code from would-be fraudsters.
4) How does TRUSTECH 2023 help grow your business?
Trustech’s extensive roster and well-planned schedule foster community-building and help our business establish high-quality connections. This translates into tangible business opportunities for Ellipse.
5) Where do you intend to grow your business in the future (countries or verticals)?
Ellipse is growing in Europe, North America, and Asia. In addition to our existing manufacturing facilities in Asia, we intend to debut more production units in the US and Europe in the coming year. Additionally, the first deployments of EVC-equipped payment cards are coming soon in partnership with card issuers in several different markets.