MI-based Stratos is adding EMV chips to its Bluetooth Connected Card Platform. The EMV chip will support a specific card issuers’ credit or debit card.
The addition of an EMV chip to the Stratos Card is part of a phased approach to the overall EMV security enhancements that the company has planned for its platform.
This ensures Stratos members and card issuers with superior security, reliability and acceptability at point of sales systems whether EMV Chip or magnetic stripe enabled. Stratos members have the option to either use their EMV credit or debit card or sync any additional payment, gift, or loyalty card loaded into Stratos Card for immediate use. The combination of Stratos Card’s unique Dual Stripe technology with an EMV Chip makes acceptance rate higher than any other payment solution.
Today’s announcement introduces the first connected device that can fully support both the magnetic stripe payment format and EMV chip format. Stratos believes the migration to EMV/Chip-and-PIN is establishing the foundation for securing payments. As part of Stratos Card’s evolution, Stratos plans to introduce tokenization over NFC as well as loading tokens onto its dynamically changing magstripe. Combined with its EMV Chip, the card will offer new levels of security never seen before on a connected payment device.
Stratos is the creator of the award-winning Stratos Bluetooth Connected Card™, which empowers issuers with a new card offering that consolidates an unlimited number of loyalty, membership and gift cards into a single, smart, dynamic card — digitizing the wallet. With patented security features and acceptance at more places than any other mobile payment offering, Stratos streamlines the payment experience and empowers cardholders to make better payment decisions. Merchants and issuers partnering with Stratos are able to strengthen loyalty and engagement with better data and improved communications to their customers without infrastructure change.
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