Monterrey, MEXICO / Los Angeles, USA / Levallois-Perret, FRANCE – October 6th, 2021
This new partnership will allow Issuers supported by Copayment to issue payment cards that automatically refresh their Card Verification Code (CVV2/CVC2) during every EMV® transaction.
Retail eCommerce sales in Latin America grew 63.3% in 2020 and surpassed the $100 billion mark.1 As such, securing digital payment, reducing Card-Not-Present (CNP) fraud, and decreasing false declines has become vitally important.
“We are delighted to work with Linxens and Ellipse to drive online payment security in one of the fastest growing eCommerce markets,” said Pedro Gil, CEO and Founder of Copayment. “The advent of the EVC Dynamic Card Security Code processing capabilities into our services portfolio will enable our clients to deploy eCommerce-ready cards swiftly, while maintaining a seamless cardholder experience.”
“There is no doubt that Covid-19 has changed payment behaviors, and it’s estimated that the pandemic accelerated the shift to eCommerce by 5 years. Paying with peace of mind is evermore a top priority for online consumers and through this partnership, Linxens is bringing a high-volume solution to improve security payment on the internet to the market,” explains Cuong H. Duong, CEO Linxens. “Our teams of experts have successfully enabled the integration of the first EVC battery-free Dynamic Card Security Code technology into existing manufacturing processes making it even easier for the deployment of this new technology via our customers.”
Ellipse CEO and Founder, Cyril Lalo added “Our partnership with Copayment and Linxens combines expertise from key areas of the value chain to bring our EVC battery-free Dynamic Card Security Code solution to the market. Fraud protection is provided at the card level as the security code is refreshed each time the card is used in a POS terminal or ATM, rendering stolen card data useless. The battery-free design coupled with the reduction in need for replacement cards also makes EVC a very environmentally friendly solution.”
CoPayment, Linxens and Ellipse will present the details of this project during the upcoming Foro CoPayment, to be held in Monterrey on October 7th, 2021.
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