ellipse
Ellipse World, Inc. is a private U.S. fintech that builds EVC, a battery-free dynamic CVV/CVC technology embedded in payment cards (and extended to virtual cards and agentic AI payments) to eliminate card-not-present fraud for banks, card manufacturers, and fintech issuers.
- Company typePrivate
- Founded2017
- HeadquartersCulver City, United States
- Headcount1–10
- GTM typeB2B
- OfferingHardware or Manufacturing
What ellipse does
Ellipse World, Inc. is a private U.S.-based fintech that develops EVC (Embedded Verification Code), a dynamic card security code technology designed to eliminate card-not-present (CNP) fraud. Founded in 2017 and headquartered in Culver City, California, the company embeds a battery-free micromodule with a 3-digit ePaper display into EMV payment cards; the displayed CVV/CVC rotates each time the card is used at a POS terminal, ATM, or refreshed through a banking mobile app, rendering stolen card data useless. The company's core product surface has expanded from physical cards to include EVC for Virtual/Digital Cards (for fintech issuers), EVC for Agentic AI (human-intent authorization for autonomous AI-driven purchases), and an iOS/Android companion app supporting manual code refresh and an "Invisible Mode" that blanks the displayed code. Ellipse sells primarily through an enterprise channel model, with distribution concentrated among major card manufacturers (e.g., Giesecke+Devrient, CompoSecure, Toppan Security, CPI), payment networks (Visa, Mastercard, Discover, Cartes Bancaires, Elo), processors (FIS, Worldline, Paymentology), and chip/component providers (STMicroelectronics, Infineon, NXP, Linxens, SPS IN Groupe).
The company monetizes through two streams: (1) hardware sales of EVC All-in-One micromodules to card manufacturers, and (2) licensing of EVC technology and brand to partners for use in their card products. Revenue is not publicly disclosed, but cumulative venture funding totals approximately $35 million across rounds in 2017, 2018, and 2022. Ellipse targets financial institutions (banks and credit unions as the primary segment), card manufacturers seeking differentiated premium card offerings, and digital-first fintechs needing CNP fraud protection. Pricing is not publicly disclosed; the company offers free evaluation demo cards to select prospects and operates a booking system for financial institutions, signaling a multi-year enterprise contract structure. The company holds a USPTO-registered trademark for its EVC Dynamic Card Security Code battery-free solution and has opened a U.S. assembly plant in Culver City (2024) to supplement existing Asian manufacturing facilities.
The go-to-market motion is dual-tracked: direct enterprise field sales to financial institutions, layered on top of an extensive channel-partner ecosystem that drives the bulk of distribution. Recent strategic actions — including the appointment of a President with Salesforce and Adobe experience (March 2026), the launch of virtual/digital card and agentic AI product extensions, and the expansion into over a dozen countries — indicate the company is transitioning from a hardware-centric startup to a multi-modality payment security platform targeting the converging threats of CNP fraud and AI-driven autonomous transactions.
ellipse firmographics
Firmographics- Name
- ellipse
- Legal name
- Ellipse World, Inc.
- Website
- https://ellipse.la
- Company type
- Private
- Founded year
- 2017
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Ellipse World, Inc. is a private U.S. fintech that builds EVC, a battery-free dynamic CVV/CVC technology embedded in payment cards (and extended to virtual cards and agentic AI payments) to eliminate card-not-present fraud for banks, card manufacturers, and fintech issuers.
- Ownership category
- akta.pro rank
ellipse industry classification
Industry- Product category
- Payment Card Security Technology
- NAICS
- Computer Terminal and Other Computer Peripheral Equipment Manufacturing (334118)
- SIC
- Electronic & Other Electrical Equipment (No Computer Equip) (3600)
- akta.pro primary industry
- Identity Verification (IDV) & Document Verification (FSAMALAE)
- akta.pro secondary industries
- Virtual Card & Tokenization Schemes (FSAMAAAG), Card Issuing & Program Management Platforms (BPAMAFAH)
Keywords
Where ellipse is headquartered
LocationHeadquarters
- HQ city
- Culver City
- HQ country
- United States
- HQ region
- North America
Offices3 records
Markets served
ellipse business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Technology or R&D, Supply Chain, Operations, Personnel, Marketing or Sales, Infrastructure
Revenue model
- EVC Micromodules: Sale of EVC All-in-One micromodules to card manufacturers for integration into payment cards. The modules are embedded during card manufacturing.
- Licensing Technology: Licensing EVC technology and brand to partners for use in their card products, including premium metal cards and digital card solutions.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Multi-year contract | Select companies can evaluate a free physical card |
Go-to-market motion2 records
Distribution channels5 records
Marketing channels3 records
ellipse product offering
Product offeringCore offering
Ellipse develops and sells EVC (Embedded Verification Code) technology—a battery-free dynamic card security code platform that integrates into payment cards. The EVC All-in-One micromodule features a 3-digit ePaper display that refreshes the CVV/CVC when the card is used at EMV terminals, ATMs, or mobile banking apps, rendering stolen card data useless for card-not-present fraud. The platform extends across physical cards, virtual/digital cards, and agentic AI payment scenarios, with technology licensed to card manufacturers, payment networks, and processors globally.
Product overview
Ellipse World Inc. is a fintech company offering the EVC (Embedded Verification Code) platform—a universal dynamic card security code solution spanning physical, digital/virtual, and agentic AI payment modalities. The product portfolio consists of EVC for Physical Cards (battery-free micromodule with ePaper display), EVC for Virtual/Digital Cards (for fintechs and digital-first issuers), EVC for Agentic AI (human intent authorization for autonomous purchases), and a companion mobile app (iOS/Android) supporting manual refresh and Invisible Mode. EVC technology prevents card-not-present fraud by dynamically rotating CVV/CVC codes upon EMV transaction use.
Differentiator
Problem solved
Functional benefit
Brands
- EVC: EVC (Ellipse Virtual Card) is a dynamic CVV/CVC technology platform that provides fraud protection for payment cards by dynamically rotating card security codes.
Products and services
- EVC for Physical Cards Battery-free dynamic CVV/CVC payment card technology with a 3-digit ePaper display that refreshes the security code when used at EMV POS terminals, ATMs, or through a mobile banking app. Renders stolen card data immediately useless to fraudsters. Designed for card manufacturers and financial institutions seeking to eliminate card-not-present fraud.
- EVC for Virtual Cards Dynamic CVV/CVC technology for virtual and digital cards that automatically refreshes the security code each time a mobile app is opened or manually refreshed. Provides real-time fraud protection for digital payments similar to physical cards, designed for digital-first fintechs and issuers.
- EVC for Agentic AI Dynamic CVV platform providing a frictionless way for shoppers to authorize agentic payments with true human intent. Addresses the emerging threat of AI agents executing autonomous purchases by providing human-in-the-loop authentication for AI-driven payment transactions.
- EVC Mobile App Mobile application for iOS and Android that allows users to manually refresh the dynamic CVC/CVV, test EVC functionality, and use Invisible Mode to clear the EVC display to secure card data from prying eyes.
Quantifiable outcome
- Amount lost to CNP fraud in 2024, US: $10 billion
- +2 more outcomes
Companies that use ellipse
Customer profileSegments3 records
Ideal customer profiles3 records
ellipse technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
AI capability1 record
Feature6 records
ellipse partnerships and signals
Strategic signalPartnerships
Eleven partnerships are on record, tiered core and flagship.
- TransactilitycoreSince 2025, Ellipse partnered with Transactility to bring EVC compatibility to more processors. By updating their jCARD system (jPOS Card Management System) to be EVC-Ready, more banks and financial institutions can easily offer dynamic security code platform to their customers.
- WisecardcoreSince 2024, Wisecard has been a strategic partner providing APAC region with premium metal payment cards. Wisecard supplies EVC-ready metal cards, EVC-compatible Portable Teller Machines (PTM), and supports mobile app development for EVC smartphone experience.
- FISflagshipSince 2021, FIS has been a premiere strategic partner, ushering EVC technology to its stable of financial clients. Partnership extends beyond processing to industry relationships, brokering new partnerships, and being trusted advisors as technology evolves.
- Cartes Bancaires (CB)flagshipSince 2023, Ellipse partnered with CB (France's national payment network) to integrate EVC technology. By delivering dynamic security codes to millions of cardholders, the collaboration bridges physical and digital transactions and virtually eliminates e-commerce fraud.
- MCT (Marketing Card Technology)coreMCT partnered with Ellipse since 2025 to manufacture EVC-Ready payment cards for banks and financial institutions in the US market.
- Toppan SecuritycoreToppan became Ellipse partners and EVC-ready in 2024, offering dynamic CVV/CVC solution to financial institution clients. Full metal cards can now accommodate EVC micromodules.
- Perfect Plastic Printing (PPP)coreEllipse partnered with PPP since early 2024 to integrate the All-in-One EVC micro module into payment card product lineup, focusing on delivering new value to PPP clients through e-commerce fraud eradication.
- Giesecke+Devrient (G+D)coreG+D has been a trusted card manufacturing partner since 2024, integrating EVC technology into Convego SecureCode product portfolio. EVC is available for all G+D card designs.
- e7 Groupcoree7 Group has been an EVC Ready Partner since 2024, providing card manufacturing accommodating EVC micromodule. They produce Ellipse's featured classic red cards, crucial to EVC awareness across Middle East and globally.
- LinxenscoreSince 2019, Linxens partnered with Ellipse to introduce battery-free EVC solution. Linxens provides crucial components for the battery-free technology using a bi-stable screen in the standard security code position.
- SPS IN GROUPEcoreSPS IN GROUPE's eBoost inductive coupling technology is integrated with EVC All-In-One module, enabling mass production of eCommerce-ready payment cards without physical connection between micromodule and antenna.
Scale indicators1 record
Recent moves7 records
Expansion highlights5 records
ellipse competitors and assessment
Company assessmentDirect peers
- IDEMIA: IDEMIA is the largest dedicated payment card manufacturer globally and a direct competitor in card-level security innovation, including its F.CODE biometric card line that adds dynamic/embedded security features to EMV cards.
Broad incumbents
- Thales: Thales is a top-three global card manufacturer with its own security IP and EMV/contactless platforms; it competes head-to-head with Ellipse in offering differentiated secure payment cards to issuers worldwide.
- Giesecke+Devrient: G+D is a top-tier payment card manufacturer and an Ellipse distribution partner via its Convego SecureCode product line; comparable because it bundles secure-card technology with manufacturing at global scale.
- Mastercard: Mastercard is both an Ellipse partner (EVC integration) and a potential competitor through MDES tokenization, biometric card programs, and broader fraud-management offerings for issuers.
- Visa: Visa integrates EVC and also operates Visa Token Service, Visa Secure (3DS), and other dynamic authentication products that compete for the same fraud-prevention wallet share at issuing institutions.
Others
- NXP Semiconductors: NXP is a leading secure-element chip supplier for payment cards and an Ellipse partner; relevant because its chip roadmap directly determines EVC module capability and pricing.
- Infineon Technologies: Infineon supplies security controllers for EMV cards and is a chip partner for Ellipse; comparable as the upstream silicon enabler of any card-level security feature.
- STMicroelectronics: STMicroelectronics provides secure microcontrollers used in EVC modules; relevant as a critical-component supplier and ecosystem participant rather than a direct competitor.
Emerging players
- Featurespace: Featurespace provides adaptive behavioral analytics for fraud and risk in card payments; comparable as an emerging fraud-prevention vendor targeting similar issuer and acquirer customers, though it competes in software rather than hardware.
- Feedzai: Feedzai is a riskOps platform for fraud and AML across card payments and digital banking; comparable because it sells fraud-prevention software into the same financial-institution buyers that Ellipse approaches with its hardware-based solution.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights2 records
Customer concentration
ellipse social profiles
Digital presenceellipse financial estimates
Financial estimateRevenue estimate
Valuation estimate
ellipse leadership team
Management profileNumber of profiles
Profiles3 records
ellipse funding detail
Funding detailFunding overview
Funding rounds3 records
Investors3 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
ellipse M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about ellipse
What does ellipse do?
Ellipse develops and sells EVC (Embedded Verification Code) technology—a battery-free dynamic card security code platform that integrates into payment cards. The EVC All-in-One micromodule features a 3-digit ePaper display that refreshes the CVV/CVC when the card is used at EMV terminals, ATMs, or mobile banking apps, rendering stolen card data useless for card-not-present fraud. The platform extends across physical cards, virtual/digital cards, and agentic AI payment scenarios, with technology licensed to card manufacturers, payment networks, and processors globally.
Is ellipse a public or private company?
ellipse is a private company. It is classified as venture growth investor backed and is currently operating.
When was ellipse founded?
ellipse was founded in 2017. It employs 1 to 10 people.
Where is ellipse based?
ellipse is headquartered in Culver City, United States, in the North America region.
How does ellipse make money?
Two revenue lines are on record. EVC Micromodules are the primary driver. The others are licensing Technology.
Who are ellipse's main competitors?
IDEMIA is listed as a direct peer. Broad incumbents are Thales, Giesecke+Devrient, Mastercard and Visa. Others are NXP Semiconductors, Infineon Technologies and STMicroelectronics. Emerging players are Featurespace and Feedzai.
Does ellipse have an API?
No public API is recorded for ellipse.
What industry is ellipse in?
ellipse's product category is Payment Card Security Technology. Its primary akta.pro industry code is FSAMALAE, Identity Verification (IDV) & Document Verification, with a secondary code of FSAMAAAG, Virtual Card & Tokenization Schemes. Its NAICS code is 334118 and its SIC code is 3600.