InCard Technologies Unveils $2.95 Security Card Token.
ICard Product Family
* Industry-best $2.95 price point for mass deployment
* Industry-best two-week turn time
* Available as a challenge-response card
* Card and interface 100% customer-branded
* Time - or event-based security, supports OATH or custom algorithm
LOS ANGELES -- InCard Technologies, Inc. (OTCBB: INVC), developers of the market-proven InCard DisplayCard(TM) security device for online banking, online trading, and data access, is introducing a new family of card token products, priced below $3.00 in million-unit quantities. The InCard ICard(TM)uses a plastic, credit card form factor in conjunction with a web interface to provide one-time passcode (OTP) security in payment or ID card format. InCard Technologies has already begun marketing the ICard directly to the top financial institutions in North America.
The InCard ICard product family is priced to disrupt the global OTP token market, currently valued at more than $500 million by Frost & Sullivan. The ICard is robust, requiring no special handling or mailing, has two week turn times, is 100% brandable by the issuing institution, and can be combined with a standard payment or ID card. Among other applications, the ICard can authenticate customer calls to financial institutions, improving customer experience, and eliminating the need for expensive and time-consuming security questions.
"The ICard's aggressive price structure moves the needle on the ROI calculation for OTP security," said Richard Nathan, President and CEO of InCard Technologies. Nathan continued, "By introducing the ICard family, we are breaking the $3 price barrier for OTP in a card format, expanding our offerings to include challenge-response functionality, and enabling OTP security within existing systems. This family of products was developed for institutions that are looking for a cost-effective, convenient, and brandable alternative to bulky keyfob tokens."
The ICard enables employee-to-employee authentication within large firms, and OTP authentication for online banking, trading, and data systems access. The ICard is available as a challenge-response authentication card, and can be used with either a web or software interface. The company is also planning a European introduction of an EMUE card application in Q3 of this year. The ICard family of products is currently manufactured in the United States and is available for delivery. InCard plans to manufacture and market its complete line of ICard products in Europe and South America by the fourth quarter of 2010 and in Asia by the first quarter of 2011. All ICard products are priced below $3.00 for mass deployment.
InCard Technologies is the leader in OTP card technology, as evidenced by the market domination of their DisplayCard product; the world's only ISO-compliant electronic card featuring a display and the UL consumer safety mark. The card is used by some of the world's largest banks, brokerages, and online vendors to authenticate customer identity during online transactions and account access. It is also used by various enterprise organizations worldwide to authenticate employee access to electronic information systems.
About Innovative Card Technologies
Innovative Card Technologies, Inc. (OTCBB: INVC) was founded in 1993 to add advanced features to payment cards. The company's product suite, the InCard DisplayCard and InCard ICard, enable OTP authentication in a convenient credit card format. The cards can be configured to feature RFID for physical access, an EMV chip, or payment capabilities. www.incard.com.
This release may contain forward-looking statements, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All forward-looking statements included in this document are based upon information available to InCard as of the date hereof, and InCard has not assumed any duty to update these forward-looking statements to reflect events or circumstances after the date of this document. A discussion of various factors that could cause InCard's actual results to differ materially from those expressed in such forward-looking statements is included in InCard's filings with the Securities and Exchange Commission, including its Annual Report on Form 10K, dated May 15, 2009.
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|Comment:||InCard Technologies Unveils $2.95 Security Card Token.|
|Date:||Apr 19, 2010|
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