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Dynamics Inc. Card 2.0: Multi-Use Secured Credit Cards

Posted By Jim On 09/23/2010 @ 12:06 pm In NEWS | 10 Comments

One of the biggest misconceptions about credit card security is that the sensitive information is located on the front of the card. While your card number, your name, and its expiration date are important bits of information, the magnetic strip contains that information and more. Dynamics Inc. has created a prototype of a card that would secure the magnetic strip of the card whenever you weren’t using it, requiring you to enter in a passcode before you could activate the card.

They’ve debuted two products:

  • Hidden: Ten of the 16 digits of your credit card number are printed on the card, with an additional six “hidden” on a display. After you enter in your special passcode, the remaining six digits are displayed. When the card is activated, the magnetic strip on the bag will populate with your data and it is erased when the unit is “off.”
  • MultiAccount: Instead of carrying two cards, you only need one. You select the card you want by pressing the button and the magnetic strip on the back is populated with the pertinent data.


I’m not entirely sure if this will take off but it’s certainly a step in the right direction for credit card and debit card technology. The MultiAccount card is going to be tricky because what issuer is going to pay for a MultiAccount card just for the convenience of their customer? The Hidden card has the potential to take off if its cost is offset by the savings in fraudulent charges and if the consumer doesn’t mind entering in a code each time (remember, we’re only on the hook for $50 by federal law and often $0 depending on the issuer).

I wouldn’t be surprised if their next three products, all TBA, involved communication technologies that would create one time use card numbers, similar to how RSA keyfobs work if you’ve ever seen them, on the fly. I suspect we’re just getting the appetizers first.

Here’s a video from Mashable:

What do you think?


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