Card 2.0 gives consumers more credit options at check-out
This week, Dynamics, Inc. debuted a new device that may revolutionize the way consumers use their credit cards. At the DEMO Conference in Santa Clara, California, the company introduced Card 2.0, a piece of technology that resembles any other credit card. However, with Card 2.0, users will be able to store a number of different accounts on one piece of plastic.
Dynamics, Inc. says the card, which is as flexible and durable as other credit cards, will display information at the press of a button. It becomes several different cards in one by altering its magnetic strip upon command, according to MIT Technology Review.
“These cards are exactly the same size and thickness of a conventional card, and the lithium-polymer battery inside can last four years under high usage,” Dynamics chief executive Jeff Mullen told Technology Review.
After raising $5.7 million in funding last year, the company has been in stealth mode developing Card 2.0. Mullen says while the card will cost more to manufacture, it will be offset by the increase in revenue for banks. Industry analysts claim there is already a growing market for easier, mobile payment methods.