Visa and Dynamics Unveil the World’s First Wallet Card
January 08 2018 - 12:35PM
Business Wire
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
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 technologies, including:
- 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 accounts.
- 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 card to-date.”
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.
CES 2018
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.
About Visa
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.
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Media Inquiries OnlyVisa Inc.Kryssa Guntrum,
415-805-4488kguntrum@visa.com
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