FiTeq announced the launch an approved EMV payment applet in conjunction with the FiTeq Energizer Stripe, ensuring dynamic authentication whether the card is used at EMV terminals or legacy magnetic stripe terminals.
FiTeq’s cards appear much like conventional credit/debit cards, but are battery powered and embedded with FiTeq’s Energizer Stripe. The solution enables a unique cryptogram – FiTeq Transaction Specific Code – to be created within the magnetic stripe data packet for each transaction. The card also features an EMV approved chip, which is the global standard for authenticating credit and debit card transactions.
Dynamic authentication protects cardholder data by making it valid for one transaction only, then expiring. This prevents losses from skimming and account data compromise, both of which can result in counterfeit account usage by fraudsters.