FEITIAN Technologies Launches Two New Payment Card Solutions
SANTA CLARA, Calif., March 12, 2019 /PRNewswire-PRWeb/ -- FEITIAN Technologies US Inc., a world leader in strong multi-factor authentication and combined technology all-in-one smart cards, announced today the launch of two new payment card types which can both be combined with FIDO strong authentication: the Fingerprint Biometric and Dynamic CVV Payment cards. These advanced technologies will help all elements of the payment card chain, including the issuer, acquiring bank, merchant and card user.
Fingerprint Biometric Payment Card
The Fingerprint Biometric Card comes with user-friendly "Supra-Match-On-Card" enrollment in which the biometric identifier is securely stored by the card, and only on the card. Biometric cards are becoming increasingly important as contactless card payments made without PIN or signature requirements become more common.
"Our Fingerprint Biometric Card will help all components of the payment card industry reduce fraud with convenient and secure transactions," said FEITIAN Technologies Director of Strategic Projects Michael Gwynn. "Because the fingerprint data is always stored cryptographically and locally on the card - and isn't sent anywhere else or held by any other party - our card offers the perfect combination of transaction security with user convenience for payment solutions. Basically, your fingerprint is now your PIN."
The fingerprint data is enrolled by the card via a desktop or mobile application and stored cryptographically within the secure element of the card. This level of security makes it the perfect combination of portability, functionality and security for payments. The unit also functions without batteries. It connects via RFID or NFC, and is active only when it is being used with a card reader and when the user places a verified fingerprint on the card. This prevents it from being randomly scanned and having its data stolen. These features save issuers time and money while delivering superior security.
"We have partnered with FEITIAN on their biometric product portfolio for a long time, and we see a bright future for PIN-less payments," said Thomas Rex, Senior VP of Business Line Smartcards and Embedded at Fingerprint Cards. "The built-in fingerprint sensor will quickly verify its user with a simple touch, allowing secure and easy payments."
Dynamic CVV Payment Card
The FEITIAN Dynamic CVV (Card Verification Value) Card allows for limited-duration availability of the three-digit CVV code on payment cards when users make online purchases, phone orders or other card not present (CNP) transactions. The card issuer sets the time duration that the CVV will remain available for use. This reduces the opportunity for the card's CVV to be fraudulently reused.
FEITIAN has a full product line, including the Dynamic CVV Server, to support the advanced transaction process, and the FEITIAN Dynamic CVV technology has been certified by both Visa and MasterCard.
"These new FEITIAN payment card options combine increased security and fraud reduction with user-friendly solutions. The demand for payment cards with advanced security is strong, and the introduction of these products into the marketplace will help us continue to grow as a valued partner for payment card issuers and financial institutions worldwide," said VP Yan Yan, who leads FEITIAN's card technologies initiatives.
FEITIAN will be at Payments Summit 2019, booth #5, in Phoenix, AZ, March 11-14 demonstrating their extensive line of secure payment products and technologies. To schedule a private demo with FEITIAN, contact michael.gwynn@ftsafe.com.
About FEITIAN
Founded in 1998, FEITIAN Technologies has its US Headquarters in Santa Clara, CA. Dedicated to providing advanced cybersecurity and payments by producing a full range of strong authentication, payment and identification products in the Security Key and Smart Card form factors, FEITIAN is a worldwide leading supplier of strong two-factor authentication, including FIDO U2F and FIDO2 passwordless solutions. FEITIAN also specializes in producing "customerized" solutions to fit their clients' needs securely, offering small minimum orders and value pricing. FEITIAN has over 1,000 employees, more than half of whom are focused on research and development. We serve customers in over 100 countries in enterprise businesses, financial institutions, education campuses, government and healthcare facilities. For more information, visit http://www.ftsafe.com.
SOURCE FEITIAN Technologies
