SPS introduces anti-skimming function to reassure contactless payment cardholders
Smart Packaging Solutions (SPS), a world leader in contactless and dual interface card manufacturing technologies, introduces Press & Pay, a patented, original and validated solution for financial institutions willing to reassure their hesitant customers when switching to contactless and dual interface cards.
While contactless and dual interface cards meet a growing adoption worldwide, some users are still reluctant to adopt them as they fear card skimming schemes that would threaten their banking card data.
Even if the whole payment industry has repeatedly demonstrated that card skimming is not an issue thanks to the built-in security features in the EMV specifications, some users are still concerned about this issue. To reassure them, SPS introduces Press & Pay, a system that ensures the card contactless communication is only activated when the card is touched by the user’s finger on a given target, and not while it is stored in a wallet or in pants pockets.
The method, patented by SPS, consists in detuning the antenna while the card is at rest and only retuning it when the card is touched by the user’s finger. Actually, the system is triggered just by touching and is not including any biometrics, keeping its cost in line with all issuer requirements for contactless and dual interface banking cards.
Already in 2018, for the first time in history, contactless payment card issuance is likely to reach 1.5 billion units, accounting for more than 50% of all payment card shipments globally. This move is especially triggered by leading card schemes mandates, that drive the migration to contactless cards in Europe, Asia, Latin America and North America.
Jean-Baptiste Leos, Marketing Director for banking products at SPS declares: “In the card industry we all know contactless cards are secure, but with Press & Pay, we bring a solution to card issuers who need to reassure their most fearful customers and prove them their card will only be functional when they are willing to pay.”
This performance can only be achieved thanks to SPS inductive coupling technology. As the antenna is not physically connected to the micromodule, it can be detuned and retuned according to the position of a switch, etched at the same time as the antenna. SPS has already delivered over 500 million eBoost® inductive coupling platforms for diverse markets segments worldwide.
With the SPS brand, IN Groupe opens its secure components technology to all card and document manufacturers. SPS (Smart Packaging Solutions) is specialized in the design, manufacturing and sale of contactless solutions dedicated to ID cards, e-passport and dual interface banking cards. Headquartered in Rousset, France, with a subsidiary in Singapore, SPS employs 140 people. The company specializes in contactless and dual-interface products, with a recognized micro packaging expertise. SPS has filed over 120 patents supporting its exclusive technologies. More information at http://www.s-p-s.com