Connected Credit Card Has The Features Of A Small Computer

Connected Credit Card Has The Features Of A Small Computer
Banks, Insurance & Financial Services

Dynamics Inc. wants to introduce a new breed of plastic money, complete with an e-ink display and built-in cellular connection

Leo Lutero
  • 14 february 2018

Dynamics Inc. has unveiled a small device that looks and works like a credit card, bolstering the security on everyone’s favorite way of spending. Wallet Card contains chips that change card data on the go and a built-in cellular connection that lets it communicate with a bank whenever it needs to.

EMV chips and PIN codes are common ways to avoid fraud. However, they can’t seem to eradicate cloning a card or stealing numbers for cardless transactions. Dynamics’ solution is to build a smarter credit card with an EMV chip, contactless payment chip and a magnetic stripe that can change information on the go, which allows the instant cancellation and replacement of credit card numbers. If you think a number has been compromised, it’s easy to call-up the bank and request for new digits. The new data is beamed directly to the card via cellular networks.

The ability to change card information also means your debit card, credit card, and other bank cards can live on a single piece of plastic. Loyalty cards that use the same interfaces can also be loaded into the Wallet Card.

Arrow buttons on the card make it easy to switch between accounts. An e-ink display changes every time you switch cards, and it can also show current loyalty card points, reminders on due dates and other messages from the bank.

PSFK has seen the use of temporary credit card numbers as a security feature. Services like Final use new numbers for every merchant. If you want to cancel a subscription, it’s easy to cancel the card number to ensure no other charges will happen.

A testament to Moore’s Law, the decade-old Dynamics has finally found a way to compress a small computer in a stress-resistant card that is thin enough to fit where all cards go. The company presented the technology at CES 2018 and is now working with leading international banks and credit card networks like Visa and Mastercard to bring the hardware to market.

Dynamics Inc.


Lead Image: Holding a credit card via Shutterstock

Dynamics Inc. has unveiled a small device that looks and works like a credit card, bolstering the security on everyone’s favorite way of spending. Wallet Card contains chips that change card data on the go and a built-in cellular connection that lets it communicate with a bank whenever it needs to.

+banking
+CES 2018
+contactless payment
+credit cards
+financial services
+internet of things
+IoT
+IoT
+Personalized Loyalty
+retail
+technology

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