Ellipse World, Inc.
Ellipse World, Inc. (“Ellipse”) is a Culver City, Calif., USA based Fintech that specializes in complex card technology. The company develops and patents solutions for battery-free complex cards, equipped with an electronic digital or text display. Ellipse’s main products are the EVC (Ellipse Verification Code) and eWallet electronic solutions.
Ellipse supplies complex card electronic modules to card manufacturers through their inlay manufacturers, in order to maintain existing supply chains. Ellipse also supplies subsets directly to smart card manufacturers that build cards without an inlay construction (for instance, for metal cards).
Ellipse technologies
Ellipse technologies enable smart card manufacturers to produce display cards, or complex cards with their existing hot-lamination process and equipment.
These display cards include a bi-stable electronic display that is able to show:
- A Dynamic Card Security Code (DCSC), that is used to secure card-not-present transactions,
- Information for a prepaid transit card, such as the number of trips left, expiration date, remaining value,
- Current balance for a prepaid or loyalty card.
While first generation Complex Cards have to be powered by an internal battery, second generation Complex Cards based on Ellipse’s patented technologies are battery-free. These second generation Complex Cards are powered by POS terminals or ATMs during contact or contactless EMV transactions.
Ellipse Verification Code (EVC)
During a card-not-present transaction, the CSC (Card Security Code) is the only information originating from the issuer that is not stored by the merchant. Consequently, evolving from a static CSC to the Dynamic Card Security Code (DCSC) significantly improves the security of the transaction as a fraudster that would spy a CSC would be left with useless information.
This Dynamic Card Security Code changes during each EMV transaction, which brings significantly better security than a static card security code and rendering stolen card data less useful for fraudulent online payments. Online merchants manage the dynamic security code the same way as a regular printed static CSC. Merchants simply pass the security code to the acquirer as they are not allowed to store this information and are not responsible for validating it.
Ellipse Dynamic Card Security Code technology is marketed under the EVC (Ellipse Verification Code) name.
Ellipse technologies fully leverage the existing EMV infrastructure. Smart cards integrating EVC technology generate dynamic security codes using the algorithms available in existing authorization platforms, such as hardware security modules (HSMs). Dynamic security code synchronization between the card and server is handled automatically, using standard EMV protocols and mechanisms.
EVC (Ellipse Verification Code) is a technology that generates a Dynamic Card Security Code (DCSC) during a contact and/or contactless EMV transaction by using dynamic data from this transaction, that displays the dynamic security code on a small screen of a battery-free payment card powered by the payment terminal driving the transaction, and that enables the dynamic security code to be validated by an EMV system during a subsequent card-not-present transaction.
Ellipse Wallet
Ellipse technologies introduce a foundation for smart card applications such as prepaid/wallets, and transit cards that benefit from the addition of a display. Ellipse wallet electronic modules integrate a larger display that can be updated by using existing infrastructure and protocols. Smart cards implementing this technology are able to show up-to-date vital information such as number of trips left, expiration date, and remaining value.
Company history
Ellipse World Inc. was founded in Culver City, California, USA in 2017 by cofounders Cyril Lalo and Sébastien Pochic, both veterans of the complex card technology. The first investors in Ellipse World Inc. are AWPG along with the founders. In 2019, in a series A investment round, Upfront Ventures became a major shareholder of Ellipse World Inc.
Key people include:
- Cyril Lalo, CEO,
- Sébastien Pochic, CTO,
- Gabrielle Levy, CFO,
- WenChing Chou, VP of Engineering,
- Laval Law, Marketing,
- Martin Ferenczi, Strategic Relationships,
- Tim Feely, General Counsel,
- Thep Tan, Customer Success manager.
In October 2019, ABCorp (formerly known as the American Banknote Corporation) announced.[1] the launch of its battery-free dynamic security code payment card that utilizes Ellipse Verification Code™ (EVC) technology.
In October 2019, Valid S.A., a Brazil-based developer of smart card solutions for financial institutions, telecommunication companies, state governments, and public agencies, launched[2] its first battery-free Dynamic Security Code card for the payments market based on Ellipse Verification Code™ (EVC) technology.
In November 2019, Linxens, a specialist in the design and manufacture of microconnectors for smart cards and RFID antennas and inlays, and Ellipse introduce the battery-free Electronic Verification Code™ (EVC™)[3] solution for payment cards, demonstrating the solution is easy-to-deploy for card issuers as it is compatible with existing hot-lamination manufacturing equipment, as well as with all standard card features (embossing, magstripe, hologram, etc.).
In June 2020, CompoSecure, a US-based manufacturer of premium financial cards, announced a partnership with Ellipse World Inc. under which CompoSecure markets Metal cards including Ellipse's EVC technology in order to eliminate potential card-not-present fraud for online transactions[4]
Patents
| Patent issuer and number | Title | Date |
|---|---|---|
| EP 2787474 | Dynamically allocated security code system for smart debt and credit cards | 2013-06-14 |
| US 9727759 | Prepaid, debit and credit card security code generation system | 2017-08-08 |
| US 10032169 | Prepaid, debit and credit card security code generation system | 2018-07-24 |
| US 10235674 | Method for a prepaid, debit and credit card security code generation system | 2019-03-19 |
| US 10268942 | Packaged electronic module and manufacturing method thereof | 2019-04-23 |
| US 10592795 | Packaged electronic module and manufacturing method thereof | 2020-03-17 |
References
- ↑ "ABCorp Launches Dynamic CVV Technology From Ellipse World, Inc. (Ellipse)". Cision. Cision. Retrieved 10 December 2021.
- ↑ "Valid is excited to launch the very first battery-free Dynamic Security Code card for the payments market". LinkedIn. LinkedIn. Retrieved 10 December 2021.
- ↑ "https://www.linxens.com/sites/default/files/inline-files/Linxens%20Trustech_EVC™.pdf" (PDF). Linxens. Linxens. Retrieved 10 December 2021. External link in
|title=(help) - ↑ "In partnership with @ellipse_la , we're helping people access a solution that's built for the future and eliminates potential #cardnotpresent fraud for online transactions". Twitter. Twitter.
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