Cyril Lalo

Chief Executive Officer

Cyril Lalo is the Chief Executive Officer and Founder of ellipse. He brings global leadership experience, innovation, strategy and vision to push the payment industry further. 


Prior to ellipse, Cyril was the successful founder and CEO of NagraID Security Group. Cyril led his team to design and develop industrialization capabilities for innovative security and authentication solutions for multi-component complex cards. He pioneered the development of the non-violent lamination process that allows for sensitive electronics and active components to be embedded in credit cards and other form factors.  He sold NagraID Security Group in September 2014 to Oberthur Technology (IDEMIA), where he became Worldwide Head of Payment Indirect Sales in addition of his role of CEO of NagraID Security.

Cyril’s passion for complex technology lead him to invent and patent the first reliable mass-produced payment card with a built-in LCD display and touch-sensitive keypad (Display Card). He was able to lead his team to create the first production line for the mass manufacturing process of complex components in an ISO 7810 thickness card and the process was certified by Visa and MasterCard.


Cyril and his team developed the first Display Card to generate and display one-time-passwords providing a strong two-factor authentication for e-banking and e-commerce. These innovative cards gained industry-wide recognition and are deployed by prestigious card issuers worldwide such as Bank of America Merrill Lynch, PayPal, Erste Bank, and Standard Chartered Bank. They were also deployed by authentication industry leaders such as RSA, Verisign, Vasco, Symantec, and Gemalto. 


Cyril’s expertise in the payments and authentication space led him to invent, develop and deploy the first revolutionary card product and process to secure Card-Not-Present transactions: the dynamic CVV/C2 card. 

Cyril is a serial entrepreneur with over 20 years of experience leading high-tech companies. He is the Founder / President / CEO of ellipse and owner of CYLAL Corporation. He was the Worldwide Head of Payment Indirect Sales at Oberthur Technologies, Founder / President / CEO of NagraID Security, COO of InCard, EVP at Prosodie, Founder / Chairman / CEO of nCryptone (previously called AudioSmartCard), Chairman / CEO of NSX and Founder / CEO at MRI (Microsoft and IBM Certified Provider). 



  • Founder and CEO of nCryptone founded in 1999 (sold to InCard in June 2006)

  • Inventor of the first patented AudioSmartCard (utilized sound to vehiculate an ID and two OTPs) in 2001

  • Invented the first Display Card with an AudioSmartCard prototype in 2002

  • Launched the first Commercial Display Card with Vasco in 2003

  • Inventor of the patent: “Method of Securing Operations Over a Network and Associated” to solve the “Man in the Middle” attacks in 2004

  • Launched the first Display Card with Visa at Cartes Paris in 2005

  • IPO of InCard on the NASDAQ in 2006

  • Founder and CEO of NID Security founded in 2008 (sold to Oberthur Technologies in September 2014)

  • Inventor of electronics assembly line setup and mass production line - 450K units/mo capacity scalable to 2M/mo in 2008

  • Launched of the first MasterCard DisplayCard in 2010

  • Largest issuance of the MasterCard DisplayCard with Standard Chartered Bank in 2012

  • Largest issuance of DisplayCard with Gemalto and Banco Bicentenario in 2012 (over 1 million cards in 6 months)

  • Inventor of the first DCVx2 card (dynamic card verification code) in 2011, which won the 2015 American Sesames Award for the Best Innovation in the Card Payment Industry

  • Setup a new facility for Display Card embedding/manufacturing in Schenzen in 2015

  • Launched the first DCVV2 Card with Caisse d'Epargne and Banque Populaire

  • Largest issuance DCVV2 Card with Société Générale


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