Infineon Applied sciences AG launches two new secured pay as you go tags for closed-loop reward playing cards, lowering the chance of tampering. These new options be part of Infineon’s secured EMV pay as you go tag for open-loop reward playing cards.
The U.S. Federal Commerce Fee reported losses of $212 million for reward or reload playing cards in 2024. The brand new secured pay as you go tags goal closed-loop reward playing cards, that are processed in retailer-specific or closed-loop environments, and change the necessity for seen codes, barcodes, or magnetic stripes with a secured chip utilizing cryptographic mechanisms.
The chips could be accessed utilizing near-field communication (NFC) units through the use of a client’s cellphone authenticated with the mandatory information, permitting each retailers and customers to faucet the reward card for activation, examine the steadiness, and redeem property, Infineon mentioned.
Infineon’s secured EMV pay as you go tag answer helps mitigate fraud points for open-loop reward playing cards by enabling tap-and-pay at any point-of-sale service provider system or retail outlet processed by way of fee networks.
Infineon’s first associate within the reward card trade is Karta Reward Card Ltd. The corporate gives help of AES encryption protocols and processing capabilities, providing cryptographic validation to keep away from reward card cloning, skimming, and replay assaults, Infineon mentioned.
Infineon’s pay as you go tag options for reward playing cards can be found as we speak. The brand new options are absolutely suitable with present manufacturing infrastructures for good playing cards and paper tickets, and the secured EMV pay as you go tag answer is absolutely EMV suitable, supporting the newest authorized Visa and MasterCard applets.
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