Dynamics Changes Payments Forever With the ePlate™ Payment Device

ePlate™ Developer Toolkit Allows Developers to Deliver Unique Consumer Experiences Using Their Payment Data While Earning 25 Basis Points Per Transaction

Dynamics Inc., Cheswick, PA (Photo: Business Wire)

SAN FRANCISCO--()--Dynamics Inc., an innovator in next-generation payment devices, today unveiled the ePlate™ payment device that gives consumers the ability to change the experience they earn with each purchase by pressing different buttons on the device. The company also unveiled a large and growing experience™ application ecosystem with a developer toolkit that allows developers, such as charities, brands, retailers, and gaming companies, to create unique, branded experiences for ePlate™ consumers.

To encourage the development of revolutionary experience™ applications, Dynamics is providing experience™ providers with 25 basis points (bps) of each transaction where the experience™ application is used. Experience™ providers are also given consumer-approved purchase data so that highly personalized experiences can be developed. UMB Bank, a subsidiary of UMB Financial Corporation (NASDAQ: UMBF) and leader in payment platform solutions will issue the new ePlate™ devices.

“Dynamics’ vision is to change the world forever without changing the way the world works,” said Jeff Mullen, CEO of Dynamics. “Today, Dynamics once again delivers on that promise. The ePlate device gives the user the ability to personalize their payment experience in a way never before envisioned while earning exclusive content across the world’s first developer ecosystem for payments. Now, the experience of every credit card in the world can be captured in a single payment device that is issued by a single issuer. And, experience providers can use consumer-approved payment data and a new revenue stream of 25bps per transaction to develop new functionality and experiences that cannot be offered on anywhere else.”

The ePlate™ device itself has two buttons – each button associated with a different experience. For instance, the consumer presses the “Experience 1” button to select one Experience Provider application and presses the “Experience 2” button to select a different experience. At any time, a user can use the Experience Manager™ software, available via a user’s phone or online banking website, to change the experiences associated with each button. The new ePlate™ payment device represents a significant advance with its ability to provide consumers with new payment functionality as developers create new experience™ applications. The technology is ground breaking in the way it links payment devices with unique content and experiences, empowering consumers to engage with brands of their choice with every swipe or online purchase. The Dynamics ePlate™ device can be used worldwide anywhere a traditional credit card can be used.

“We believe that the uniqueness of the ePlate™ device clearly differentiates this product in the market place and will revolutionize the consumer’s payment experience—as one’s needs and interests evolve, so does the experience,” said George Schmelzel, senior vice president of UMB Credit Card Services.

Dynamics also introduced a toolkit for experience™ provides that includes an application programming interface (API) centered on four primary developer tools.

Dynamics’ first tool provides experience™ providers with customer-approved purchase data each time the brand’s experience™ application is used to make a purchase. The customer-approved purchase data can then be used by the experience™ provider to increase the functionality of their payment experience. For example, a game developer that receives customer-approved purchase data about the time, place, location, and amount of a purchase may use this information to give the user a unique social or mobile game based on the unique purchase data.

Dynamics’ second tool provides developers with 25 basis points for every purchase that leverages the developer’s application. This 25 basis point revenue stream is substantial and can be used to fund exclusive content. For a $1,000 purchase, for example, a developer can earn $2.50 and provide this $2.50 back to a user in the form of exclusive content.

Dynamics’ third tool provides developers with the ability to add, with user approval, a secondary transaction on top of any purchase. This would mean that a user could approve an experience™ application that adds a $1 secondary purchase to any purchase in order to obtain a more enhanced developer experience. For example, a charity may construct an experience application that adds a secondary $1.00 donation each time a purchase is made.

Dynamics’ fourth tool allows experience™ providers to give a statement credit to the user. Thus, a brand could provide a $10.00 statement credit to a user when certain purchase conditions are met (e.g., a user spends $100 in at the retail location of the developer).

“The Dynamics ePlate™ device is a technology marvel in its own right,” stated Mike Richardson, Dark Horse, CEO. “However, it is also a business marvel for Developers. With the ePlate™ device, Dark Horse can create new, differentiating product functionality while offering exclusive content to the Dynamics user base.”

Dynamics' ePlate™ mobile payment device 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 includes two buttons – one for a first experience and one for a second experience. Based on what button was selected, the device changes the information on the Electronic Stripe™ to reflect the selected experience so the user can swipe the card in any store and enjoy the selected experience.

A user can change the experiences associated with the buttons on the ePlate™ device at any time. All a user has to do is use Dynamics’ Experience Manager™ software through their favorite phone, or accessible through their bank’s website. Dynamics’ Experience Manager™ will provide a list of experiences that a user can select and associate with the different buttons on the ePlate™ device.

Those announced today as Dynamics eplate™ experience™ providers include:

  • Upper Deck®: A digital trading card system that includes exclusive sets of digital cards. When a user completes a digital card set, the user is mailed one of numerous exclusive, physical collector’s cards.
  • Dark Horse® Comics: As a user makes purchases, the user earns exclusive digital comic books from their favorite properties. After a user collects a certain number of digital comic books, the user is provided with exclusive physical collector copies of the comic books.
  • Evil Genius Games: A game for your iPhone and Android device that lets you experience the thrill of the craziest shopping day of the year every time you make a purchase.
  • Avenue Social Games: A massive multiplayer game on the Facebook platform that adds adventure to everyday shopping.
  • Social Cubix Games: A game on the Facebook platform where user’s engage in a scavenger hunt as they make purchases around the world.
  • Jersey Jack Pinball: Earn significant discounts to Jersey Jack products as well as exclusive Jersey Jack products while being provided with the chance to win exclusive Wizard of Oz Jersey Jack pinball machines.
  • Toys for Tots: Use your purchases to donate individual toys, work with groups to donate large community toys, or experience the Toys for Tots advent calendar and earn a commemorative item while donating at the point-of-sale.
  • Lemonade Day: Use your purchases to help children across the United States build an educational foundation in business.
  • A sweepstakes application where you can win your purchase for free as well as much larger prizes.
  • A Dynamics Credits application where you earn Dynamics Credits™ for the ePlate™ platform.
  • A social network application that allows your friends and family experiences purchases as you make them.

The ePlate™ 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.

About UMB Bank

UMB Bank is a subsidiary of UMB Financial Corporation (NASDAQ: UMBF), a financial services holding company headquartered in Kansas City, Mo., offering complete banking, asset management, health spending solutions and related financial services to commercial, institutional and personal customers nationwide. Its banking subsidiaries own and operate banking and wealth management centers throughout Missouri, Illinois, Colorado, Kansas, Oklahoma, Nebraska and Arizona. Subsidiaries of the holding company and the lead bank, UMB Bank, n.a., include mutual fund and alternative investment services groups, single-purpose companies that deal with brokerage services and insurance, and a registered investment advisor that manages the company's proprietary mutual funds and investment advisory accounts for institutional customers. For more information, visit umb.com or follow us on Twitter at @UMBBank.

About Dark Horse

Since 1986, Dark Horse Comics has proven to be a solid example of how integrity and innovation can help broaden a unique storytelling medium and establish a small, homegrown company as an industry giant. The company is known for the progressive and creator-friendly atmosphere it provides for writers and artists. In addition to publishing comics from top talent like Frank Miller, Mike Mignola, Neil Gaiman, Gerard Way, and comics legend Will Eisner, Dark Horse has developed such successful properties as The Mask, Timecop, and SpyBoy. Additionally, its highly successful line of comics and products based on popular properties includes Star Wars, Indiana Jones, Buffy the Vampire Slayer, Aliens, Conan, Emily the Strange, Tim Burton, Trigun, Serenity, and Domo. Today Dark Horse Comics is the largest independent comic-book publisher in the US and is recognized as one of the world’s leading publishers of licensed comic material.

About Dynamics Inc.

Dynamics Inc. was founded in 2007 by Jeff Mullen. Dynamics produces and manufactures intelligent powered payment cards and advanced payment platforms. 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 won DEMOgod and the $1M People's Choice Award at DEMO Fall 2010, Best of Show at FinovateFall 2010, FinovateFall 2011, and FinovateEurope 2012, Best of Show at Cartes 2011, and Best of Show at BAI Retail Delivery 2011. Dynamics won Best in Show for Personal Electronics and Technology Honors at the 2012 International CES show. Dynamics investors include Adams Capital Management and Bain Capital Ventures. Dynamics is headquartered in Pittsburgh, Pa. For more information, visit: www.dynamicsinc.com

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Karen Germ, 650-762-2922

Release Summary

Dynamics Changes Payments Forever With the ePlate™ Payment Device


Karen Germ, 650-762-2922