Internet of Things (IoT) device holds multiple payment cards and
includes a digital display allowing for greater security, instant
issuance and on-card alerts or coupons
LAS VEGAS--(BUSINESS WIRE)--Jan. 8, 2018--
Visa and Dynamics today unveiled the Dynamics Wallet Card™, a connected
payment card, at the 2018 Consumer Electronics Show (CES). The
Visa-branded version of the Wallet Card is the same size and shape as a
normal Visa credit or debit card, yet it incorporates multiple features
and technologies not previously found in a single payment card. Features
of the Wallet Card range from the capacity to access multiple cards –
whether EMV-, contactless- or magnetic stripe-based – to a programmable
on-card display that enables account information, such as alerts or
coupons, to be sent to the cardholder via an embedded antenna.
“Innovation in the payments category is not limited to wearables, cars,
security or mobile technology – there is still much that can be done to
update the card-based experience, which continues to be the primary form
factor used globally to complete digital payments transactions,” said
Mark Nelsen, senior vice president of risk and authentication
products, Visa. “Having collaborated with Dynamics since they launched
their first product several years ago, we’re excited about the many
unique benefits that the Visa Wallet Card can offer to both financial
institutions and cardholders, alike.”
Wallet Card includes a cell phone chip and cell phone antenna so data
can be transferred between Wallet Card and a consumer’s bank anywhere in
the world and at any time of the day.
The device offers a number of cardholder benefits and cutting-edge
Multiple Cards in One: Cardholders can access their debit,
credit, pre-paid, multicurrency, one-time use, or loyalty cards on a
single card with the tap of a button. Account information is shown on
the on-card display with the ability to toggle between cards or
Instant Issuance: As the first instant, digital card platform,
financial institutions can distribute Visa Wallet Card anywhere and at
any time – such as in their retail branches or at events, and
consumers can activate it right away.
Greater Security: A bank can quickly delete a compromised card
account number and replace it with a new account number, providing
convenience and peace of mind for the cardholder.
Alerts and Messages: An on-card, 65,000-pixel display shows
both account information and allows messages to be sent to the Visa
Wallet Card at any time. For example, after every purchase, a message
may be sent to notify the consumer of the purchase and their remaining
balance if they used a pre-paid or debit card. Cardholders can also
receive coupons directly on the display or be notified of a suspicious
purchase and click on “Not Me” to report suspected fraud and request a
new card number.
Self-Charging Battery: An organic chip ensures the payment card
charges itself through normal operation and doesn’t require any work
for the cardholder.
“Visa supported the initial launches of Dynamics first- and
second-generation powered cards which brought new functionality to
payment cards,” said Jeffrey Mullen, CEO of Dynamics Inc. “Today, we are
pleased to again have Visa by our side as an integral partner and
thought leader as we launch Wallet Card, our most innovative payment
Availability to Financial Institutions & Consumers
For financial institutions interested in piloting the Wallet Card, it
will be available in early 2018.
For consumers wishing to be notified when a particular card will be made
available to the public, they can register today at www.getwalletcard.com.
Dynamics Wallet Card will be on display in booth 30359 at CES 2018,
which runs January 9-12 in Las Vegas. The product will also be included
in the Innovations Showcase at Tech West, Venetian, Ballroom E.
Visa Inc. (NYSE: V) is the world’s leader in digital payments. Our
mission is to connect the world through the most innovative, reliable
and secure payment network - enabling individuals, businesses and
economies to thrive. Our advanced global processing network, VisaNet,
provides secure and reliable payments around the world, and is capable
of handling more than 65,000 transaction messages a second. The
company’s relentless focus on innovation is a catalyst for the rapid
growth of connected commerce on any device, and a driving force behind
the dream of a cashless future for everyone, everywhere. As the world
moves from analog to digital, Visa is applying our brand, products,
people, network and scale to reshape the future of commerce. For more
information, visit usa.visa.com/aboutvisa, visacorporate.tumblr.com and @VisaNews.
About Dynamics Inc.
Dynamics has three business units – an intelligent card, value-added
processing, and phone payment technology business unit. The Company’s
intelligent card division has introduced market defining card products
such as the world’s first multiple account card (Canada), the world’s
first password protected card (Asia), and the world’s first multiple
co-brand card (USA). The Company’s value-added processing division
provides real-time loyalty and purchase notification to over 10 million
consumers and includes customers such as Tim Hortons and the Upper Deck
Company. The Company also produces pay-by-phone technology that is used
in millions of cell phones. LG Electronics leverages Dynamics technology
in LG Pay. Dynamics has raised over $110 million dollars in funding from
investors including MasterCard, CIBC, Adams Capital Management, and Bain
Capital Ventures. Dynamics operates multiple manufacturing facilities,
physical card personalization, and remote data trusted service manager
(TSM) facilities, with its Global Headquarters in Pittsburgh, Pa., APAC
headquarters in Singapore, LATAM headquarters in Sao Paulo, Brazil, and
EMEA headquarters in New York. More information on the company, its
technology and applications can be found at www.dynamicsinc.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20180108006576/en/
Source: Visa Inc.
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