FiTeq launches EMV payment card with dynamic authentication for magnetic stripe

Dynamic Authentication

FiTeq Technologies is launching a new payment card that integrates an EMV payment applet with the FiTeq Energizer Stripe. The card enables dynamic authentication whether used at EMV or magnetic stripe terminals. Dynamic authentication reduces the chances of fraud by making card data available for one transaction only before expiring. FiTeq’s cards are similar in appearance to traditional credit/debit cards but are battery powered and use a magnetic stripe that produces a FiTeq Transaction Specific Code, a unique ID which changes for each transaction. Whilst the migration to EMV in the US is inevitable, FiTeq’s solution is, according to CEO Joan Ziegler, “a bridging technology that eases the transition to EMV while accelerating the usage of dynamic authentication, regardless of reader type.”

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