To improve the payment experience using cards, Ewally, a financial solutions fintech, and the Elo payment card company have joined forces to offer their first dual-interface prepaid card, allowing consumers to make payments by simply tapping their card onto a contactless payment terminal. To coordinate this digital transactions ecosystem, Valid, one of Brazil’s primary providers of solutions for the financial market, is assisting in receipt of files, internal processing, testing, and manufacture of the card.
According to Adriano Franki, Valid’s Commercial Superintendent, there is an increasing demand in the market for solutions that offer greater flexibility and practicality for people’s daily lives, without compromising on security. With a production of 32 million prepaid cards in 2018, Valid works on all fronts related to the production of chips and cards, including contact (EMV), contactless, and dual-interface (which blends both technologies).
The volume of contactless transactions is booming. According to the study Contactless Payments: NFC Handsets, Wearables and Payment Cards 2017-2021, the overall value of contactless transactions made using payment cards, mobile, and wearables will reach US$ 1.3 trillion by the end of 2019.
“Tap payment has been redefining the way the world purchases products and services. The solution offers more practicality both for the consumer, with quicker transactions, and for the business, who can now offer a more convenient and innovative experience,” points out Fabio Levi, Superintendent of Digital Payments at Elo.
“In addition to payment cards, contactless technology is being applied to solutions such as payment for public transportation, individualized access control to events, and identification of people,” states Valid’s Franki.