A break-through technology that enables the production of metal embedded smartcards, with the ability to activate contactless payment on both sides
Paragon ID (Euronext Paris - FR0011980077 - PID), the leading provider of identification solutions for Transport, e-ID, Traceability, Brand Protection and Payment, is taking part in Money 20/20, one of the main events in the banking industry that will be held from the 21st to the 24th of October 2018 in Las Vegas (USA).
Paragon ID, through its subsidiary AmaTech Group, has pioneered the development of contactless technology in EMV® metal smartcards (Europay Mastercard Visa, international security standard for payment cards). Paragon ID provides contactless metal card solutions through a manufacturing process that combines laser cutting, intricate CNC machining and the nanomaterial science of specialist coatings to produce metal cards with a prestigious look and feel. The surface of the metal card is enhanced by laser engraving to create sophisticated 3D designs.
At Money 20/20, Paragon ID will present the world's first inlays with a dual interface chip module, a product that simplifies the production of metal embedded smartcards. This solution enhances the user experience by creating a convenient and efficient contactless payment that can be activated on either side of the metal card and meets the high security requirements of RFID-enabled smartcards in the Payment sector.
To answer the growing popularity of metal payment cards, Paragon ID presents a selection of black and stainless-steel cards available in different configurations and weights. These different options allow issuers of payment cards (banks, financial service providers, etc.) to offer "packaged" luxury metal cards bundled with a range of privileges and benefits personalised to their customers and their lifestyles. Our solution allows secure card manufacturers to concentrate on the personalization and fulfilment services.
AmaTech's intellectual property portfolio for dual-interface metal cards and metal inlays is covered by a large number of PCT patents and applications worldwide.
Paragon ID will showcase their range of products at booth 1083.
Konstantinos Lagios, CCO of Paragon ID stated:
“With the acquisition of the AmaTech Group, Paragon ID has entered into the Payment sector where AmaTech has a strong intellectual property position in RFID enabled metal payment objects, including dual interface metal cards and wearable devices. We are thrilled to present a world's first in this market just a few months after the acquisition. We strongly believe we will add significant value in the Payment industry, in the same manner we have been doing for decades in the sectors of e-ID, Transport, Traceability and Brand Protection.”
David Finn, CEO of AmaTech Group, commented:
“AmaTech is a visionary, pragmatic, innovative, technology company, and in combination with the manufacturing expertise of Paragon ID, a new product platform is created to strengthen Paragon's market position and to accelerate growth, producing precision-engineered stainless steel smartcards with contactless functionality, RFID metal inlays and chip modules that are applied in manufacturing of metal embedded credit cards, and prestigious metal cards that target the affluent and high net-worth segment in the Payment space.”
On 15 October 2018, the board of directors of Amatech approved a capital increase in the company, effectively giving Paragon ID ownership of 98.59% of the company's entire share capital.
About Money 20/20
Money 20/20 is where the payments, Fintech and financial services ecosystem united to create and explore the disruptive ways in which consumers and businesses manage, spend and borrow money. It is the leading event where leaders come to seize new business opportunities, build connections and learn about the latest disruptions.
About Paragon ID
Paragon ID is a leader in identification solutions, in particular in the e-ID, Transport & Smart Cities and Traceability & Brand Protection sectors.
Using the latest technologies such as RFID and NFC, Paragon ID provides smartcards, tickets, labels and tags to worldwide clients in diverse markets including public transport, manufacturing, logistics, gaming and retail.
Paragon ID employs more than 600 staff, with manufacturing sites in three continents (US, Europe and Asia), close to its customers.
Paragon ID is a part of Paragon Group, which is a leading provider of Identification and Customer Communications services and has a total of more than €775million turnover (on a pro forma basis) and close to 5,600 employees. Paragon Group combines generations of experience with the latest innovations in technology and smart data to enable responsive and meaningful interactions between organisations and their customers. For further information about Paragon Group, visit Paragon-europe.com
Paragon ID is listed on Euronext Paris. Share identification: Paragon ID – ISIN Code: FR0011980077 – Mnemonic code: PID.
More information at Paragon-id.com