Powered smart card with a biometric one time password system

Projektinformationen

QuardCard

ID Finanzhilfevereinbarung: 712317

DOI

10.3030/712317

Projekt abgeschlossen

EK-Unterschriftsdatum 10 März 2016

Startdatum 1 April 2016

Enddatum 31 August 2016

Finanziert unter

• Secure societies - Protecting freedom and security of Europe and its citizens

Gesamtkosten

€ 71 429,00

EU-Beitrag

€ 50 000,00

Koordiniert durch

CARDLAB INNOVATION APS
Denmark

Periodic Reporting for period 1 - QuardCard (Powered smart card with a biometric one time password system)

Berichtszeitraum: 2016-04-01 bis 2016-08-31

Zusammenfassung vom Kontext und den Gesamtzielen des Projekts

CardLab and QuardLock ambition is to become major players in the global market of financial payment cards, by introducing a disruptive credit card with state-of-the art security level. The SMEs forecasts to achieve cumulated revenues of €772M with net profits of €242M within five years after market rollout. The present feasibility study represents a key step towards the implementation of our overall innovation project, the primary goal of which is and adaptation of a 2nd generation QuardCard to replace a credit card and full-scale demonstration. Through the large number of meetings with financial institutions, the demand for a biometric OTP (One-time-password) smart card, as QuardCard, was clearly verified. Our analysis shows that our ambition may be fulfilled if a focused route-to-market strategy is followed.

Arbeit, die ab Beginn des Projekts bis zum Ende des durch den Bericht erfassten Berichtszeitraums geleistet wurde, und die wichtigsten bis dahin erzielten Ergebnisse

During the feasibility study we: • defined and characterised our primary market segments – online banking, e-commerce and Card Present (physical transactions); • further develop and enhance the business plan based on the findings during the feasibility study; • confirm that the acceptance and competitiveness of the QuardCard is, first and foremost, dependent on gaining market confidence; • concluded that the overall strategic vision should be expanded to other markets (e.g. access control, medical card, etc.) after securing the huge financial market; • validated or even enhanced the concept, approach and impact.
Different customers foresee different use pattern for the card product meaning that some expect a high use rate due to a wish to merge different functionalities into the same card, therefore it will be necessary to introduce a card with rechargeable battery as an additional offer. Also, several users prefer to have a fingerprint touch sensor instead of a swipe sensor on the card.

Fortschritte, die über den aktuellen Stand der Technik hinausgehen und voraussichtliche potenzielle Auswirkungen (einschließlich der bis dato erzielten sozioökonomischen Auswirkungen und weiter gefassten gesellschaftlichen Auswirkungen des Projekts)

QuardCard is a disruptive idea to the financial payments market, which is currently facing major increases in fraud levels. QuardCard combines, for the first time a smart card with biometric fingerprint to generate an OTP, which will drastically reduce the financial frauds in all targeted segments. The commercialization of QuardCard solution will have the following socio-economic impact (Year – Turnover | Net profits, € Million | New job positions at CardLab + at QuardLock):
2019 – € 100.3 | € 25.9 | 45 + 15
2020 – € 123.8 | € 32.7 | 20 + 15
2021 – € 150.8 | € 43.9 | 15 + 10

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