News
Ellipse joins the MULTOS Consortium
April 2023 by Marc Jacob
The MULTOS Consortium, a group of international blue-chip organisations responsible for the promotion and development of MULTOS technology, announced 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.
