STMicroelectronics (NYSE: STM), a global semiconductor leader serving customers across the spectrum of electronics applications, is supplying energy-harvesting secure microcontrollers to Ellipse World Inc (Ellipse), the fintech innovator, to enhance security for card payments. The first metal cards featuring EVC technology will be offered by CompoSecure (NASDAQ: CMPO). This innovative solution is designed to elevate both the payment experience and enhance user protection, facilitated by ST’s ST31N600 chip.
Ellipse chose the ST31N600 secure microcontroller as a key component in its battery-free EVC (Ellipse Verification Code) All-In-One™ dynamic CVV (Card Verification Value) micromodule. The EVC All-In-One, standard sized EMV micromodule equips payment cards with a 3-digit CVV display located on the rear of the module. The code changes every time the card is used at a physical POS terminal or ATM, and can also be refreshed on-demand via mobile phone. This new code can be utilized for any subsequent online or card-not-present transaction, effectively reducing the risk of false declines and fraudulent card-not-present activities.
The EVC All-In-One, when paired with STPAYTP1x, additionally ensures secure EMV payment transactions. The ST31N600 is responsible for harvesting radiated energy from the card reader to power the whole circuitry. The solution is battery-free, which simplifies manufacturing process and saves costs.
STM shares dropped four cents to $39.73, while CMPO shares fell five cents to $6.09.
