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  • 2018/04/30
  • 3 min

OneWave: The only smart card you’ll need

During the international Start & Pulse competition for innovative start-ups run by Crédit Agricole Consumer Finance, Sofinco chose OneWave, a company that is developing a universal smart card, as their winner. A partnership has subsequently been agreed.

A start-up based in Gironde, OneWave has developed a concept for a universal smart card which, in the space of a single card (compliant with ISO/IEC 7810 specifications), can store any number of everyday cards: bank cards,  travel cards, loyalty cards, etc.“We want to be able to offer a tool which is truly universal, which holders can use to store a growing number of card-based services, from meal vouchers to healthcare cards and home automation systems”, says Thomas Lechevallier, OneWave founder and CEO.

Making users’ lives easier

All the cards that these services use to function are added to OneWave via a dedicated mobile app (the card can connect to smartphones using Bluetooth). Once the user has carried out this configuration process, they can use OneWave without needing their phone. Whether you want to make a payment, withdraw money from an ATM (anywhere in the world), get through a ticket barrier or earn loyalty points, all you have to do is select and activate the service on the ultra-slim OneWave touchscreen, as and when you need it.

Equipped with EMV chip and NFC technology (making it compatible with both Chip & PIN and contactless payments worldwide), the OneWave card is protected by a fingerprint sensor, which prevents it from communicating until you unlock it. A certified secure element is used to encrypt the data on it.

Sofinco: partner and tester

Not only did Sofinco choose OneWave out of all 52 start-ups with proposals in the Start & Pulse competition, but our French subsidiary has also decided to form industrial partnerships which the young firm can use to develop its product. The creation of a prototype is also under way, with an expected launch date during 2019. This partnership means it will be possible, among other things, to select payment options directly on the OneWave card. This functionality should be tested over the coming months by 500 Sofinco Lab customers. A plan whereby any new Sofinco cards that are taken out can be generated directly on OneWave is also under consideration. What is more, the innovative business model established with Sofinco could also influence how this universal smart card is distributed. We’ll be keeping our eye on this one…