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Share Name | Share Symbol | Market | Type |
---|---|---|---|
CompoSecure Inc | NASDAQ:CMPO | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 8.09 | 7.00 | 8.25 | 0 | 09:00:18 |
“Banks and other payment card issuers have solutions in the hands of their customers today that can be enhanced to respond to security threats, earning the trust of both consumers and businesses,” Wilk said. “Turning a payment card into a hardware-bound passkey that functions as a physical authentication token provides a simple and secure device that is a strong compliment to current multi-factor authentication capabilities available in phones and computers today.”
Wilk points to the three threats that could shift payment technology:
Payment cards, exceeding 25 billion in circulation worldwide according to the Nilson Report, are among the most common consumer products on the planet. In contrast, the number of iPhones, something we perceive to be ubiquitous, are estimated at only 1.5 billion.
There are many use cases where a physical authentication token could add enhanced security and ensure trust, for example:
At the same time, the customer experience is always at the forefront for banks and fintechs. They need to provide a seamless customer engagement process with their brand to ensure a positive experience. Wilk points to payment technologies ready to address these looming security issues, such as security authentication solutions.
For the consumer, this means a new and convenient way to use the trusted and familiar payment card in everyday life. For banks and other card issuers, it would mean leveraging the card to be used even more often, reinforcing the loyalty between the consumer and the financial institutions even further. After all, every time a consumer uses a payment card, a marketing and branding moment is being replayed.
“It is important to remember that the best security is the one people use,” added Wilk.
About CompoSecureFounded in 2000, CompoSecure (Nasdaq: CMPO) is a technology partner to market leaders, fintechs and consumers enabling trust for millions of people around the globe. The company combines elegance, simplicity and security to deliver exceptional experiences and peace of mind in the physical and digital world. CompoSecure’s innovative payment card technology and metal cards with Arculus security and authentication capabilities deliver unique, premium branded experiences, enable people to access and use their financial and digital assets, and ensure trust at the point of a transaction. For more information, please visit www.CompoSecure.com and www.GetArculus.com.
Media Inquiries:Paulo Acunapacuna@olmsteadwilliams.com310-824-9000
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