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Innovative Card Technologies |
Innovative Card Technologies’ InCard DisplayCard looks just like any other credit, debit, or corporate ID card, except that it bears a small display on the front of the card. At the push of a button, the screen shows a dynamic passcode for authentication purposes. The card is self-powered and can be used anywhere. No bulky reader or token is necessary. This simple, effective solution is convenient for the cardholder and cost efficient for the financial institution.
What is “dynamic passcode authentication”?
Dynamic passcode authentication is a security method that uses a unique passcode to authenticate each online or remote transaction. Advanced algorithms generate a new passcode for one-time use. With the InCard DisplayCard, the passcode helps prove that the person making the transaction physically possesses the card. This process helps prevent fraud from stolen account numbers. When paired with a customer password, dynamic passcode authentication offers a powerful two-factor authentication to prevent fraud.
How does a cardholder use it?
The cardholder begins their online transaction or data access login just as they always have, by entering their static password. However, they are then prompted to enter the one-time passcode they receive at the press of a button on their InCard DisplayCard. The passcode proves the presence of the card, and when entered in addition to the correct static password, the transaction is completed. This two-factor authentication provides high-level security to meet FFIEC standards.
How does the technology work?
The card uses proprietary Power Inlay Technology – a battery, circuit and switch. Each passcode is generated by a complex algorithm and can be used only once during a limited time window. This prevents criminals from stealing the code and using it for fraud.
Why is an InCard DisplayCard necessary?
Online fraud and identity theft are a major problem, getting worse each year, and electronic buying and banking transactions are especially vulnerable to theft. The unique passcode on the display card is an additional level of security beyond static passwords. Because dynamic passcodes can only be used once, they thwart hackers who steal static account information to be used without the actual card.
When will this card be available?
The InCard DisplayCard is currently available to financial institutions and vendors working through our channel partners. Any company interested in the InCard DisplayCard as a security solution for their company should contact display@incardtech.com
How much will these cards cost?
The display card is only available through InCard channel partners, and prices will vary slightly according to partner and custom capabilities (if any). Making our products available at the lowest price point possible is very important to InCard, and we work diligently with our partners to make products as cost efficient as possible.
Could this be used in online banking like the Financial Institutions Examination Council called for in the US?
Yes, the dynamic passcode display card can very effectively be incorporated into online banking programs as one of the factors in “two-factor authentication.” In addition to a login password or PIN, the dynamic passcode can authenticate the physical presence of a card. A separate token device is not needed, greatly increasing convenience for the cardholder and decreasing costs for the bank.
subHead2Black Does the display card work like a regular credit/debit/ID card?
Yes. The display with dynamic passcode authentication is simply an added feature to existing payment and ID cards. The card can function just like any other payment card at merchant locations and ATMs, or as corporate ID cards during building access or data systems login. The technology does not interfere with normal card functions on the magnetic stripe or chip.
What if the card battery runs out?
The battery is designed to last longer than the card itself. Normally, payment cards have a life span of about three years. By the time the battery expires, the card would have already been replaced.
Who is InCard’s Transfer Agent?
American Stock Transfer & Trust Company
59 Maiden Lane
New York, New York 10038
718-921-8206
718-921-8336 Fax