Global credit card and debit card fraud resulted in losses amounting to $32.34 billion during 2021, up 14% from 2020(Nilson Report – Global Fraud)
Fraud losses on UK issued cards totalled £574.2 million in 2020, a 2% increase from £565.4 million in 2017(UK Finance)
The average total cost of a physical security breach was $4.10 million in 2023, accounting for almost 10% of all breaches recorded(IBM Security)
Identity fraudsters have stolen $112 billion over the past six years — that’s around $35,600 every minute(Security Intelligence)
The industry is seeking to solve these problems through enhanced on-card security techniques (e.g. biometrics, dynamic CVV, tokenisation)
New security features require additional power, however adding batteries or external chargers to existing card technologies is not optimal
Freevolt’s radio frequency (RF) energy harvesting technology is capable of using existing RF sources, such as access control readers, mobile phones and point-of-sale (POS) terminals, in order to combat card fraud by unlocking additional power to drive biometrics, Dynamic CVV, and other enhanced security measures.
Freevolt has also developed a series of novel system designs to meet the growing need to extend the operating life of electronic devices between charging. Typical applications include harvesting power from near field communication (NFC) devices across a wide range of smartphones (iOS and Android) and fixed readers, matching the RF field of battery-powered smart card door readers, and powering environmental monitoring sensors solely using harvested RF energy.
Tighter Control: Maintain 2-Factor Authentication, with additional security layer possible (3FA)
Removes Threat from Card Loss: Only named individual can use the card to gain access
Scalable & Easy to Adopt: Works with existing access control systems, no changes required
Better Privacy & GDPR Compliance: Fingerprint stored as a hashed proprietary template on the card (never leaves the card)
Improved Hygiene: Secure, contactless entry now possible post COVID-19 pandemic
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Freevolt Technologies is a UK technology company developing next-generation biometric smart card products for the access control, healthcare, and payments sectors.
Spun out from work completed at Imperial College London, and developed over 7 years, Freevolt is a global award-winning suite of proprietary, patented and patent-pending technologies that recycle and harvest RF energy from radio transmission networks (NFC, cellular, Wi-Fi, etc.) to power next-generation biometric smart cards. The Company owns over 20 granted patents protecting our IP across multiple territories.
We are based in London, UK, with a team of international engineers bringing a wealth of experience in product development and manufacturing, as well as expertise in RF energy harvesting and associated power technologies. Our board is led by Lord Drayson PhD FREng, who has built £500m+ technology businesses over the past 20 years.
Freevolt’s mission is to deliver advanced biometric smart cards that feature fraud protection and improved security without imposing any changes in the existing card reader infrastructure or the user experience. Our lead product, S-Key, is a battery-less biometric smart card for access control, helping businesses reduce security and impersonation risks through stronger user authentication.
Our technology can be miniaturised and allows for advanced features on contactless smart cards by providing 2-3x more power than stock secure elements or other comparable energy harvesting solutions on the market. We support secure elements from the major manufacturers, using them as drop-in components to provide the communications.
Freevolt uses existing manufacturing techniques and components, is compliant with size and thickness requirements for existing smart and credit card standards, and is already in use for mass manufacture, having signed its first non-exclusive global licence in 2018.
We sell biometric smart cards into the access control, healthcare, and payments sectors. With our lead product, S-Key, now available for the access control market we continue to explore and develop the S-Key plaform across other vertical markets, helping bridge the gap between physical and digital access solutions.
Additionally, we license our technology to companies within the smart card sector, using Freevolt to enhance their existing product roadmap, and providing a path to mass-scale global commercialisation. By offering drop-in-ready reference designs, we reduce integration effort and time to market.
“Freevolt’s true benefit lies in its ability to deliver power when the card is misaligned or operating at distance from the reader. Currently, we have seen no other solution on the market that is able to deliver this consistency in performance when not fully aligned with the reader”
– FRANK SANDELØV (CEO – CARDLAB INNOVATION APS)
Innovate UK EDGE Scaleup Program 2021-2022
Baseline Smart Card Energy Harvesting for Plug-and-Play Integration
Best Technical Development Within Energy Harvesting
Tech Tour Growth 50 2017