PA-based Dynamics is set to unveil the first and only functional interactive payment card January 6th at the Las Vegas CES event. Dynamics produces and manufactures intelligent powered payment cards and advanced payment platforms.
The new “super card” enables issuers to provide consumers greater card functionality, including the ability to select applications that are stored directly on the card itself, with the assurance that the card is compatible with existing POS terminals.
Initial applications include:
1. Greater Security: Consumers can “unlock” their account numbers for each purchase with unique codes, preventing use after theft
2. Greater Convenience: Consumers can carry both debit and credit accounts on the same card
3. Greater Control: Consumers can carry both loyalty and credit accounts on the same card and make purchases with either cash or loyalty rewards
Dynamics has formed a business partnership with MasterCard to create global availability of interactive payment cards.
The Company noted that 86 billion card transactions were conducted in the United States alone in 2012, according to the 2013 Federal Reserve Payments Study.
Jeff Mullen, chief executive officer of Dynamics is an inventor of more than 150 pending and issued patents ranging from mainstream consumer electronics for Apple to children’s electronic toys.
Dynamics 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.
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