InCard Technologies, Inc., developers of the market-proven
InCard DisplayCard 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 ICardTM 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 ICardâs aggressive price structure moves the needle on the ROI
calculation for OTP security,â said Richard Nathan, President and CEO of
InCard Technologies. Nathan continued, âBy 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.â
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 worldâs only
ISO-compliant electronic card featuring a display and the UL consumer
safety mark. The card is used by some of the worldâs 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 companyâs 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.