Despite how companies like Google and Apple work to increase mobile payment, a lot of people including my humble self, still use regular credit cards, i know you do too.
Yesterday, January 8 at CES, Dynamics introduced its Wallet Card. The Wallet Card is a digital card which contains the details of multiple accounts, it also has a cellular data connection so that your credit account numbers can be instantly changed by banks, interesting right?
The Wallet Card can switch among credit, debit, rewards and even gift cards, amazing. It has a 65,000-pixel e-ink display at its bottom right corner. Now get this, if your card number is canceled due to fraud, your card issuer can just change the account number and it will reflect immediately on the e-ink display, this is a mind-blowing security measure to protecting your account. That can also be done when your card expires, so why change the card?
This card’s display, also enables you to view bank messages like, when you are offered any rewards program, telling you the amount of points you’ve earned on a transaction or if the bank suspects fraud.
Visa, Mastercard and JCB are some of Dynamics’ first partners, some banks in Japan, India, Canada and united Arab Emirates are, as well.
To power the card, Sprint and Softbank will be the first to work on it cellularly. You must be thinking that since it has a cellular-data chip and a display that it might require you charging, but no, that is not the case. The company says that the Card’s power can last indefinitely through a form of organic recharging which occurs in the process of normal use.
You can sign up at getwalletcard.com to find out when your credit cards will be compatible with Wallet Card. I really want to do this.
Dynamics produces and manufactures intelligent powered payment cards and advanced payment platforms. Focused on introducing fast-cycle innovation to top card issuers, the company’s first commercial application is the world’s first fully card-programmable magnetic stripe for use in next-generation payment cards. Dynamics went on to produce the first fully card-programmable EMV and contactless technology.
The company has won many of the world’s most prestigious international business plan competitions, including the Rice Business Plan Competition, Carnegie Mellon McGinnis Venture Competition and the University of San Francisco Business Plan Competition. The company won DEMOgod and the $1M People’s Choice Award at DEMO Fall 2010, Best of Show at FinovateFall 2010, FinovateFall 2011, and FinovateEurope 2012, Best of Show at Cartes 2011, and Best of Show at BAI Retail Delivery 2011. Dynamics won Best in Show for Personal Electronics and Technology Honors at the 2012 International CES show. Dynamics investors include Adams Capital Management and Bain Capital Ventures.
Dynamics has closed a $5.7M Series A round led by Adams Capital Management and a $35M Series B round led by Bain Capital Ventures. Dynamics is headquartered in Pittsburgh, PA.