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Universal RFID key fob for contactless payments has been created by ISBC Group for SBI bank

A convenient payment accessory in the form of an RFID key fob has been created by ISBC Group by the order of SBI Bank. The key fob combined in one form factor a bank card with contactless payment technology and non-financial services.
The SBI Bank clients now always have an analog of a contactless bank card on a keychain, never leave it in a wallet or a cardholder at home.
The implementation of the unique project allowed to increase customer loyalty and demonstrated the competitive advantages of SBI Bank over other financial market players.

SBI Bank

SBI Bank is a high-tech credit and savings bank that offers a full range of financial products and services. Among them are online solutions for managing family finances, loans, and deposits, products and services for entrepreneurs, as well as servicing large corporate clients. The bank has been operating in the Russian market since 1994. In 2017, it became a part of the Japanese SBI corporation, which united more than 250 leading fintech companies. SBI Group is one of the market leaders in banking products and services in Japan and South Korea, as well as a world leader in the field of blockchain technologies. SBI Holdings manages investment funds in the amount of $29.79 billion.

Universal contactless RFID key fob can integrate non-financial services, such as access control, loyalty cards, city transport

SBI Bank formulated the task: to create for customers a convenient payment accessory using contactless payment technology for them to be always close at hand and not depend on a battery charge. The ISBC Key payment RFID key fob with the Mifare NXP chip has been chosen as such a payment device. Previously, ISBC Key was certified by Visa and Mastercard as a full-fledged bank card. The antenna of the key fob, designed in the ISBC radiophysical laboratory, allowed ISBC Key to pass the entire list of tests according to EMVCo standards developed for full-size bank cards.

ISBC Key has several undeniable advantages over a bank card:
The payment key fob is meant to be attached to the keys, which means it is difficult to forget it at home: customers always have access to banking products and services, even when they leave home for a short time without thinking about purchases
The payment accessory does not depend on power sources. Unlike a smartphone with NFC, the keychain cannot discharge and can work in unfriendly operating conditions, such as severe cold or heat
There is no personal data on the surface of the ISBC Key — there is no card number and CVV or CVC security code. Therefore, criminals cannot copy any sensitive data and use it for payment transactions
The key fob is of fashionable and bright design. Limited-edition series for VIP clients can be produced with an integrated LED chip or authentic holography on the surface
Let us voice the advantages of using RFID key fob ISBC Key for your project
It is worth noting that non-financial services have also been added to the key fob. So, the keychain became a pass to the Japanese sports and entertainment center ROUND1 in the Moscow shopping mall. In addition, a Moscow city transport pass “Troika” was integrated into the ISBC Key, as well as a school pass for children.
Thus, the RFID keychain becomes a universal device, an analog of a bank card, which has some other functions. Due to this, the level of comfort of citizens in everyday life increases and, as a result, the level of loyalty and trust in the bank on the part of customers increases.
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