CompoSecure Unveils New Payment Card Tech Innovations for 2023
"Driving innovation means taking risks, pushing boundaries, and constantly striving for improvement. It requires a willingness to think outside the box and a determination to stay ahead of the competition. But most importantly, it requires a relentless focus on the needs of the customer and a drive to create value that will last for years to come,” said
- LED Card –
CompoSecureis already in pilot with an LED metal payment card. This unique card features the issuing bank logo on the face of the card, lighting up with LEDs when a contactless transaction is initiated at the point of sale. This card is expected to be available this year.
- Lux Glass™ Card –
CompoSecureexpects to be the first to manufacture a transparent payment card made of Corning® Gorilla® Glass. The card is durable enough for heavy use (e.g., it can be dropped, stepped on, sat on, spilled on and forgotten in the laundry, just like other cards), but it also has an elegant look and feel. This card design is expected to ship in the first half of the year.
- Echo Mirror™ Card –
CompoSecurecreated a buffed stainless-steel payment card with a mirror-like finish. Protecting this card is a newly developed coating, providing scratch-resistant protection to maintain the beauty of the mirror finish. It also features laser and mechanical engraving, offering endless options for clean and crisp customization and personalization.
- Dynamic CVV –
CompoSecureis now able to add dynamic CVV technology to metal cards. This security feature converts the 3-digit CVV code from a static number printed on the back of the card to one on a tiny e-ink screen that refreshes periodically. The cardholder must physically possess the card to have all the necessary information to make a purchase. This technology aims to fight the $32 billionpayment card fraud crisis facing the industry.
- Arculus™ – In addition to being an award-winning cold storage hardware wallet, CompoSecure’s Arculus technology can also transform a metal card into a multifunctional device to support both payments and to act as a ‘tap-to-authenticate’ hardware key allowing for passwordless and hardware-based multi-factor authentication (MFA). Leveraging a familiar form factor (payment card) as an authentication key allows for frictionless user experiences, delivers improved customer security, and continues to enhance a card issuer’s brand. CompoSecure’s Arculus™ security and digital authentication solution is FIDO2 certified, and
CompoSecurehas obtained approval by Mastercard and Visato produce payment cards with authentication capabilities.
To find out more about these innovations, visit www.composecure.com or you can contact a sales representative directly at www.composecure.com/contact.
Founded in 2000, CompoSecure (Nasdaq: CMPO) is a technology partner to market leaders, fintechs and consumers enabling trust for millions of people around the globe. The company combines elegance, simplicity and security to deliver exceptional experiences and peace of mind in the physical and digital world. CompoSecure’s innovative payment card technology and metal cards with Arculus security and authentication capabilities deliver unique, premium branded experiences, enable people to access and use their financial and digital assets, and ensure trust at the point of a transaction. For more information, please visit www.composecure.com and www.GetArculus.com.
This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. These statements are based on the beliefs and assumptions of management. Although the Company believes that its plans, intentions, and expectations reflected in or suggested by these forward-looking statements are reasonable, the Company cannot assure you that it will achieve or realize these plans, intentions, or expectations. Forward-looking statements are inherently subject to risks, uncertainties, and assumptions. Generally, statements that are not historical facts, including statements concerning the Company’s possible or assumed future actions, business strategies, events, or results of operations, are forward-looking statements. In some instances, these statements may be preceded by, followed by or include the words “believes,” “estimates,” “expects,” “projects,” “forecasts,” “may,” “will,” “should,” “seeks,” “plans,” “scheduled,” “anticipates” or “intends” or the negatives of these terms or variations of them or similar terminology. Forward-looking statements are not guarantees of performance. You should not put undue reliance on these statements which speak only as of the date hereof. You should understand that the following important factors, among others, could affect the Company’s future results and could cause those results or other outcomes to differ materially from those expressed or implied in the Company’s forward-looking statements: market acceptance of the Company’s product innovations; the outcome of any legal proceedings that may be instituted against the Company or others; the impacts of the ongoing COVID-19 pandemic; the ability of the Company to grow and manage growth profitably, maintain relationships with customers, compete within its industry and retain its key employees; the possibility that the Company may be adversely impacted by other economic conditions (including the rapidly evolving conflict between Russian and the
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Source: CompoSecure, Inc.