FAE Limited innovates technology for protecting credit cards in Nigeria

Business News

 

By Industrial Digest

” With the Radio Frequency Identification  (RFID) card cover,  information on credit cards, debits cards are well protected from hackers and fraudsters.”

The Managing Director/Chief Executive officer, FAE Limited, Funlayo Bakare-Okeowo, said during the launch of the product in Lagos.

She assured that the Radio Frequency Identification  (RFID) blocking ATM card cover will eliminate card fraud and scams across the globe, especially in Nigeria.

“The paper industry is aware of the change in the narrative and has decided to be innovative with RFID.

‘’As technology evolves, it is no news that the future of making payments is going contactless. Contactless credit cards are cards that use Radio-Frequency Identification (RFID) for making transactions.
“As far back as 2015, the contactless card has been introduced into the Nigerian market and over 10 million Nigerians use contactless cards without knowing its advantage and disadvantages,’’ she said.

She explained that as good as the features of the contactless card is, not many users are aware that their cards can be read with powerful RFID readers from a distance of 100-meters by malicious hackers on the quest to steal the financial data of unsuspecting users.

“This prompted  FAE’s solution to electronic pickpocketing. ‘’Our card cover is manufactured with shielded sleeves that block RFID energy required to power the chip on the contactless card,” she stated.

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