Look up. That credit card right there is a shining concept that’ll likely means utterly a few headaches in practice. Dynamics, that creates the ends by coming up with new ways to get a general proletariat into more debt, has only done public its Redemption remuneration device — the recent card with a couple of LEDs, selectors as well as a ability to let users put their earned points toward any since squeeze. The idea goes a small something like this: you hurl up to a Old Navy checkout opposite, remember which you have 4,300 points logged, and confirm which you’d similar to to cash ‘em in towards the squeeze of your brand-new threads. You tap a “Request Rewards” side of your card, appropriate it and watch as your points change and sum monies owed dwindles. Currently, Citi is trialing these with a tiny group of consumers, with a incomparable US hearing expected to get going next month. There’s no discuss of how a LEDs stay lit (or how a battery stays charged, nor any indication of how prolonged these selector buttons will reason up over time. We also have no idea how you’ll be means to easily check your point change or separate payments between points and dollars, though hey, at least there’s a beautiful event here for an accompanying mobile app. Dynamics Redemption credit label

Show full PR textDynamics Debuts Next-Generation Payment Card with Options for Credit as well as In-Store Point Redemption

Citi Cards Reveals Consumer Pilot
FinovateFall 2010

NEW YORK–(BUSINESS WIRE)–FINOVATE – Dynamics Inc., an dignitary in next-generation payment devices, currently reveals its Redemption™ payment device in the label form-factor. The payment card with a choice for in-store point redemption is an additional Payments 2.0® application built on Dynamics’ Card 2.0® record. Redemption™ allows consumers to pay during a indicate of sale with credit or request to redeem their reward points or money rewards toward a squeeze of any object during any merchant. The association is demonstrating this ground-breaking remuneration device today at FinovateFall 2010, a discussion showcasing innovations in monetary as well as banking technology.

“We combined a device with a really superb user interface that offers consumers a very healthy, nonetheless functional, knowledge”

Redemption™ has been in trials with the tiny series of Citi credit label business given May 2010. Citi expects to enhance a hearing with select U.S. credit card business this November.

Terry O’Neil, Executive Vice President at Citi Cards, said, “Citi is committed to bringing innovative solutions to market which yield the business with greater preference, control as well as flexibility to assistance them better manage their money. Today you are announcing a consumer hearing module which will use Dynamics’ technology to put a energy of preference in the customer’s hands, with the elementary press of a button. By piloting this record, we’ve essentially combined a new way for consumers to set free their reward points. With a elementary press of the button as well as swipe of their Citi label, consumers can select to make use of their points toward their squeeze.”

“Citi is during the forefront of embracing as well as executing brand-new technologies which bring impassioned worth to consumers,” pronounced Jeff Mullen, CEO of Dynamics. “Never prior to has an issuer brought this sort of capacity to market, a single which allows consumers to select during a point-of-sale to make use of points that they’ve warranted.”

Redemption™ will work during any merchant where magnetic stripe readers have been used. The face of a device is printed with a singular credit account series and includes two buttons with associated light sources. A user can choose whether to make use of points or use credit at the indicate of sale by pressing a suitable symbol. The card will then visually prove a selection by turning ON the light source associated with a selected choice. The magnetic-stripe information associated with the remuneration option is afterwards created to a Electronic Stripe™. The card can afterwards be swiped during any magnetic stripe reader as well as the information is then perceived as well as processed by Citi.

“We combined the device with a very superb user interface which offers consumers a very natural, yet organic, knowledge,” added Mullen.

In September 2010, Dynamics unveiled two alternative Payments 2.0® applications: MultiAccount™ as well as Hidden™. MultiAccount™ is directed to the convenience-oriented consumer as well as includes mixed payment accounts on a singular card. A user simply presses a symbol associated with a particular payment account to turn on the card. Hidden™ is directed to the security-conscious consumer and includes 5 buttons upon the face of the card with a portion of a cardholder’s account series hidden by the paper-thin stretchable arrangement. A user contingency use a buttons to enter a personal unlocking code in sequence to arrangement a dark numbers to turn on a label.

About a Technology

Dynamics’ Payments 2.0® applications are all built on its Card 2.0® technology platform. Card 2.0® is a paper-thin, flexible computing height in the payment card form cause. The device includes the Electronic Stripe™ — the world’s initial fully card-programmable magnetic ribbon. The Electronic Stripe™ can be read during any existent point-of-sale (POS) captivating ribbon reader. The device itself can change any bit of report on this programmable stripe at any given time. The technology does not need any change to the 60 million 1970s-era magnetic stripe readers or reeducation of its merchant bottom. The device is written to be as thin, stretchable, as well as permanent as the traditional remuneration label as well as final over 3 years on the singular battery assign. Countless applications can be satisfied with a Card 2.0® height record and are referred to as Payments 2.0® applications.

About Dynamics Inc.

Dynamics Inc. was founded and seeded in 2007 by Jeff Mullen, the CEO. Dynamics produces and manufactures smart powered cards such as advanced payment cards. Focused upon introducing fast-cycle innovation to tip card issuers, a company’s first commercial application is a world’s first fully card-programmable magnetic stripe for make use of in next-generation remuneration cards. The association has won most of the world’s many prestigious general business devise competitions, together with a Rice Business Plan Competition, Carnegie Mellon McGinnis Venture Competition as well as a University of San Francisco Business Plan Competition. The company not long ago won DEMOgod and a $1MM People’s Choice Award at Demo Fall 2010. Dynamics is backed by Adams Capital Management and is headquartered in Pittsburgh, Pa. with offices in Silicon Valley as well as New York City. More information upon a company, the record and applications can be found at www.poweredcards.com.

Via Engadget