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In today’s hyper-connected world, payments are becoming increasingly digital. Over the coming years, we can expect even more choices in how we pay. Innovative payment cards and smart payment devices will continue to make digital payments more convenient, secure, and attractive.
Contactless payments have become the norm, with consumers enjoying the convenience and flexibility that comes with the free choice of payment device at the point of sale. Cards, smart phones, wearables, and more are now in the mix.
Security, speed, and performance are must-haves for both card issuers and cardholders. The next generation of contactless cards must therefore combine high security with convenience. One way of meeting this demand lies in combining biometric technology with a security chip in payment cards.
A new wave of connected devices will further enable touchless payments. The market can expect to see additional interfaces such as BLE (Bluetooth® Low Energy), UWB (Ultra-Wideband), and Wi-Fi in ultra-small formats, operating at extremely low power.
As contactless payments grow in popularity, increasingly powerful technologies are speeding the adoption of tap and pay. A smart card is a physical card with an embedded chip that acts as a security token. This chip is used for data storage, on-card functions like encryption and authentication, as well as interaction with card readers.
Huge advances in 28 nm microchip technology are driving the evolution of payment cards and setting new benchmarks for performance and security across the industry. Our SECORA™ Pay solutions on 28 nm are taking flexibility and security to the next level, paving the way for future-proof, innovative use cases.
Our SECORA™ Pay portfolio enables contactless payment functionality to be integrated into virtually anything. Backed by extensive services and design-in support, SECORA™ Pay is a flexible platform featuring sophisticated Java Card™ technologies, pre-certified payment options, and support for Visa®, Mastercard®, Discover®, and American Express®.
From fitness trackers to rings and bracelets, people everywhere are embracing the convenience of contactless NFC payments using wearable devices. Looking beyond individuals, a growing number of organizations and even cities are increasingly unlocking the benefits of smart connectivity. As the IoT continues to grow exponentially, consumers now expect to be able to make purchases from their connected vehicles, televisions, speakers, and AR/VR headsets.
Our SECORA™ Connect solution portfolio addresses the rising popularity of smart wearables and IoT devices. Using Near Field Communication (NFC), these system solutions are designed to be embedded into smart wearables to support contactless secured payments, transportation ticketing, and other applications. Convenient biometric authentication means PINs are not even required for high-value transactions.
Biometric payment cards mark the latest generation in payment cards thanks to their fingerprint sensor. Biometric payment cards offer more convenient and hygienic payment experiences as the card holders can verify their identity by simply placing a finger on the card’s sensor and tapping the card at the terminal. This allows to make the biometric payment process faster than typical PIN-based transactions. By using biometric payment cards, many of today’s applications do not require an additional PIN at the point of sale (POS) in case the transaction volume is in a predefined range.
We are currently developing SECORATM Pay Bio, an all-in-one biometric payment solution with a fingerprint sensor and secure element. This setup ensures that fingerprint data remains on the card. This solution comes with pre-certified Mastercard® and Visa® applets for efficient, advanced production processes. SECORA™ Pay Bio has the power to unlock a new level of convenience and trust for users, supporting the boom in contactless payments, while providing a high level of security and peace of mind for cardholders.