June 1, 2023 | Switzerland: BPC, one of the world’s leading payment solution providers, today announced an enhanced partnership with the pioneering fintech company, Ellipse World, Inc. (Ellipse). The partnership will focus on bolstering security measures and privacy for customers by integrating EVC® (Ellipse Verification Code), Ellipse's dynamic card security code/CVV/CVC technology into BPC's acclaimed SmartVista platform to provide EVC processing services.
Ellipse is spearheading a revolution in payment cards with a unique and innovative solution to tackle Card-Not-Present fraud: the EVC All-In-One micro module. This battery-free EMV module is a drop-in replacement for payment cards, replacing the existing printed panel with a digital screen to transform traditional cards into full-fledged security devices. Each time an in-person contact or contactless card transaction is initiated, the card generates and displays a new security code on the screen. This changing security code eliminates fraudulent card-not-present transactions by effectively safeguarding the card information from theft by malicious actors, and simultaneously reduces false declines by providing a trusted data point.
Vasily Grigoriev, Managing Director of Global SaaS at BPC, said “We are excited to partner with Ellipse to enable our clients to deploy cutting edge payments technology. BPC is committed to supporting innovative fraud prevention solutions, ensuring that our consumers are able to leverage the right security solutions. Having Ellipse’ dynamic CVV technology together with our established Fraud Prevention service we are about to achieve an unprecedented level of cards security on behalf of our customers.”
“Through leveraging and integrating existing EMV rails, we have developed a unique method to reducing financial fraud associated with e-commerce and card-not-present transactions” added Cyril Lalo, founder and CEO of Ellipse. “Through our partnership with BPC, we are empowering a greater number of financial institutions, businesses, and consumers to enhance their e-commerce journey with peace of mind and serenity.”
The partnership with Ellipse demonstrates BPC’s continued commitment to adopting market-leading payments technology, ushering in a new era for payment card capabilities. Traditionally, payment cards heavily relied on a fixed security code (“static CVV/CVC”) for transaction verification or authentication. However, through the integration of Ellipse’s ground-breaking EVC technology into SmartVista, BPC’s global clientele may now experience an unprecedented upgrade to their card portfolio.
This remarkable development marks a bold stride forward in the evolution of card security, ensuring a secure and convenient transaction environment for customers worldwide. The EVC micromodule is the missing link between the physical and digital realms, instilling trust and confidence in cardholders when utilizing their cards for online transactions.