New Shield Technology Launched at Cartes 2014
New, patented technology designed to protect its customers’ contactless payment cards from accidental payment, ‘card clash’ and data theft has been launched at Cartes Secure Connexions exhibition (Paris, 4-6 November 2014).
The patented contactless debit and credit card shielding has been developed by leading plastic card manufacturer, Plastic Card Services (PCS) and technical solutions provider, VoyagerBlue, was unveiled at the global event to rapturous reviews from the banking sector.
Rob Nicholls, MD, Plastic Card Services
How Shield Works for Card Security
The Shield technology can be incorporated into any plastic card design to sit in wallets and purses, providing a brand’s customers with a protective barrier against accidental or unauthorised payments and card skimming. Contactless payment cards use radio-frequency identification (RFID) technology, where an embedded chip enables consumers to wave their card over a reader to pay for goods.
Growth and Risks of Contactless Payments
With over 36 million(1) contactless cards in circulation in the UK and 30 countries(2) introducing these cards worldwide, RFID technology is increasingly common. However, while these devices can simplify retail transactions, accidental payments can occur and in some cases, personal data can be electronically skimmed through phone apps.
Collaboration Behind the Technology
Already having identified this flaw, VoyagerBlue approached PCS to research and manufacture the technology capable of safeguarding the details stored in RFID devices.
Rob Nicholls, managing director at PCS, said: “As contactless cards become more common, so does the potential for erroneous payments and fraud, and from speaking to representatives from across the banking sector at the event, it appears this is a growing concern to financial organisations.
Benefits and Applications in Banking Sector
“The shield technology provides an innovative and easy-to-use method of preventing both accidental transactions and data theft for consumers. It is an ideal offering in the banking sector, where protecting customers’ data is a key issue.
“As the only patented technology of its type that can be incorporated into card designs, we are confident that it will revolutionise the security of contactless payments.”
(1)UK Cards Association
(2) http://www.smartpaymentassociation.com/en/news_events/latest_news/contactless-card-shipments-jump-enabling-shoppers-_hv4y38vx.html
