Hong Kong-based ScramCard has snagged a seven-figure private investment from Stewart Milne CBE.
ScramCard users upload their credit and debit cards to a universal card with high security features.
For security each transaction, regardless of EMV, NFC or mag stripe, requires a PIN.
The startup offers five card products: Pinnacle, Wallet, Token, Union and Unique.
PINNACLE is the definition of a product used for replacing existing payment cards, such as credit, debit and prepaid, with something hugely desirable that also offers greater security and protection for the customer. A comprehensive suite of enhanced payment and security features, embedded to within a physical device that’s exactly the same size as the payment cards it’s been developed to replace, helps achieve this.
WALLET meets the consumer demand for new and emerging payment methods continue to be met in abundance, many solutions are being introduced at the expense of security. When considered in the context of a physical electronic wallet for payment cards, unless there is significantly enhanced security by which to manage the resulting payments, the consolidation of such payment cards merely extends today’s ease of fraud across multiple cards.
TOKEN was developed to provide a single, convenient and economical alternative to multiple authentication device management and offers a slim and desirable solution that customers and employees would be more then willing to carry. Cumbersome and expensive authentication devices have become the de facto standard from which few think there is any escape. With the increasing need to introduce stronger authentication to protect multiple systems and services, customers and employees are ending up having to manage numerous and often disparate devices.
UNION recognizes the consumer demand for innovation and increased personal protection by allowing the consolidation of multiple MasterCard products into one slim and convenient device. Coupled with the ability by which to link other disparate payment cards, UNION offers a unique opportunity to deliver a uniquely competitive advantage through product differentiation. The financial services industry leaves little space for competitive differentiation yet this commercial necessity forms a key objective for all payment card issuers.
With over 285 billion combinations of UNIQUE device configuration available, ScramCard is pretty confident you’ll be able to find a unique solution that will suit your needs.
ScramCard has developed and specified four standard products, that provide effective coverage for the likely requirements of all prospective clients, we appreciate that sometimes the best solutions don’t quite fit. As a result, ScramCard allows the UNIQUE configuration of a solution that should satisfy the needs of all.
ScramCard partners include MasterCard, Gemalto and Alcineo,
ScramCard Global (Hong Kong) Pty Ltd was established in 2014 to progress the work started by its founder – Simon Hewitt – some 10 years earlier.
For data, background and forecasts on the ScramCard: Search CardWeb.com’s CardFlash® Library of more than 58,000 archived articles; Access CardWeb.com’s CardData® for current and historical Performance, Portfolios, Profiles, etc. Visit RAM Research® (ramresearch.com) for quarterly and annual forecasts covering more than 150 metrics. [complimentary or deeply discounted access to CardWeb.com subscribers].
Additional database resources include CardWeb.com’s CardExecs® – comings & goings of payments movers & shakers; CardWeb.com’s CardWatch® – ears & eyes on marketing globally (57K items); and CardWeb.com’s CardPixes® – form & function of card design (7K items).