NEW YORK--(BUSINESS WIRE)--Dynamics Inc., Card 2.0® technology has been named the 2011 International Consumer Electronics Show (CES) Best of Innovations Winner for Personal Electronics. CES is the world’s largest consumer technology tradeshow and is sponsored by the Consumer Electronics Association®.
Products entered in this prestigious awards program are judged by a preeminent panel of independent industrial designers, engineers and members of the media to honor outstanding design and engineering in cutting-edge consumer electronics products across various categories. Best of Innovations winners are products that received the top score in their respective category.
Dynamics’ core technology, Card 2.0®, is a paper-thin, flexible computing platform in a payment card form factor. The device includes the Electronic Stripe™ -- the world’s first fully card-programmable magnetic stripe. The Electronic Stripe™ can be read at any existing point-of-sale (POS) magnetic stripe reader. The device itself can change any bit of information on this programmable stripe at any given time. The device is as durable as a traditional payment card and will last over four years on a single battery charge. The technology does not require any change to the 60 million 1970s-era magnetic stripe readers or reeducation of its merchant base.
“We’re humbled to receive this prestigious award from CES and excited at the personal connection our technology made with this best-in-class judging panel,” said Jeffrey Mullen, CEO of Dynamics Inc. “This is just the beginning. We will continue to deliver innovative and exciting functionality to the consumer.”
Dynamics Card 2.0® will be exhibited at the 2011 International CES, which runs Jan. 6-9, 2011 in Las Vegas, Nev. The product will also be included in the Innovations Showcase in the grand lobby of the Las Vegas Convention Center and will also be featured at CES Unveiled: The Official Press Event of the International CES on Tuesday, Jan. 4.
About the Award
The prestigious Best of Innovations awards have been recognizing achievements in product design and engineering since 1976. The Best of Innovations entries are judged on the following criteria:
- Engineering qualities, based on technical specs and materials used
- Aesthetic and design qualities
- The product’s intended use/function and user value
- Unique/novel features that consumers would find attractive
- How the design and innovation of the product compares to other products in the marketplace
- Products chosen reflect innovative design and engineering of the entries. Examples may include the first time various technologies are combined in a single product or dramatic enhancements to previous product designs.
More information on the award can be found at www.CESweb.org/Innovations.
About Dynamics’ Technology
Countless applications can be realized with the Card 2.0® platform technology and are referred to as Payments 2.0® applications. Payments 2.0® applications include:
MultiAccount™: The device includes two buttons on the face of a card. Next to each button is a printed account number and a light source. A user can select an account by pressing one of the buttons. The card visually indicates the selection by turning ON the light source associated with the selected account. Additionally, the magnetic-stripe information associated with the selected account is written to the Electronic Stripe™.
Hidden™: The device includes five buttons on the face of a card and a paper-thin flexible display. The display hides a portion of a cardholder’s payment card number. To turn the device ON, a user must enter a personal unlocking code into the card. If the user enters in the correct unlocking code, the card will then visually display the user’s payment card number so that the user can read the number for online transactions. The Electronic Stripe™ is then populated with the correct magnetic information so that the card can also be used with magnetic stripe readers. After a period of time, the display turns OFF and the Electronic Stripe™ erases itself – thus removing all critical payment information from the surface of the card. If the card is lost or stolen, the card is essentially useless.
Redemption™: The face of the device is printed with a single credit account number and includes two buttons with associated light sources. A user can choose whether to use points or use credit at the point of sale by pressing the appropriate button. The card will then visually indicate the selection by turning ON the light source associated with the selected option. The magnetic-stripe information associated with the payment option is then written to the Electronic Stripe™. The card can then be swiped at any magnetic stripe reader.
Dynamic Credit Card™: A unique security code is written to the Electronic Stripe™ every time the card is activated. A display may be added to the card such that a unique security code is also displayed every time the card is used. These displayed and in-stripe security codes eradicate fraud associated with stolen, or “skimmed,” intangible card numbers.
About Dynamics Inc.
Dynamics Inc. was founded and seeded in 2007 by Jeff Mullen, its CEO. Dynamics produces and manufactures intelligent powered cards such as advanced payment cards. Focused on introducing fast-cycle innovation to top card issuers, the company's first commercial application is the world's first fully card-programmable magnetic stripe for use in next-generation payment cards. The company has won many of the world's most prestigious international business plan competitions, including the Rice Business Plan Competition, Carnegie Mellon McGinnis Venture Competition and the University of San Francisco Business Plan Competition. The company recently won DEMOgod and the $1M People's Choice Award at Demo Fall 2010 and Best of Show at FinovateFall 2010. Dynamics is backed by Adams Capital Management and is headquartered in Pittsburgh, Pa., with offices in Silicon Valley and New York City. More information on the company, its technology and applications can be found at www.poweredcards.com.
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