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In conjunction with the Series C funding announcement issued earlier today,
MasterCard and Dynamics Inc. also announced today a joint commercial
initiative to drive innovation in the interactive payment card market. The
collaboration enables MasterCard to offer exclusive Dynamics products to its
issuers globally, providing consumers with added choice, flexibility and
security at the point of sale.
Multiple Currencies: Interactive Payment Cards from MasterCard and Dynamics,
Inc. Consumers can instantly switch to different currencies with the touch of
a button with this card. The world's first interactive payment card technology
incorporates a tiny built-in computer to deliver consumers unprecedented
control, convenience and security. The technology delivers multiple functions
through built buttons, displays and LEDs, including the ability to select up
to five different currencies, access multiple accounts, and even instantly
choose which reward programs to activate. The card is also compatible with
existing point-of-sale terminals. (Photo: Business Wire)
Dynamics technology and manufacturing capabilities produce payment cards that
enable issuers to meaningfully differentiate their card products and to
provide extraordinary payment functionality to their cardholders. Dynamics
next-generation interactive payment cards are built with features such as
buttons, displays and LEDs. These technologies provide consumers greater card
functionality including the ability to select applications that are stored
directly on the card itself, all with the assurance that every card is
completely compatible with existing POS terminals. Dynamics also pairs their
card technology with interactive mobile applications to help move the consumer
that much farther into the digital world.
The technologies have many practical applications and will allow issuers to
offer multiple consumer features and functions in one card. This includes
cards that offer consumers multiple selectable currencies, access to both
debit and credit accounts, and cards with a co-brand that offer credit or
debit in conjunction with a separate loyalty application.
As safety and security in everyday payments is at the heart of MasterCard's
business, its expertise in these areas will also enable the companies to
develop new security-oriented products on a global scale while continuing to
allow consumers the choice of how they pay. Working together, MasterCard and
Dynamics will deliver to issuers innovative payment cards for a global
consumer base that continues to move away from cash and seeks personal
technologies that deliver convenience and security for their daily lives.
“Interactive payment cards give cardholders an unprecedented level of
customization, control, and security at each and every purchase at any
point-of-sale device in the world,” said Jeff Mullen, Chief Executive Officer,
Dynamics. “With interactive payment cards, banks can expand card offerings by
providing cardholders with several additional on-card payment options that
cardholders can select at each purchase. By giving consumers easy access to
additional options, banks can enable several business models on a single card
while building brand and an enhanced cardholder relationship with each
purchase.”
“At MasterCard, we are focused on driving innovation across the entire
payments industry, and continue to invest in the technologies, solutions and
companies that will help our customers and partners expand their business and
serve their cardholders in new ways,” said Carlos Menendez, Group Executive,
Global Credit and Debit Products at MasterCard. “In working with Dynamics, we
have secured a partner with deep technology capabilities and market-leading
manufacturing capabilities to help drive innovation in the interactive payment
card market while moving in lockstep with MasterCard's mobile and digital
enablement strategy.”
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