Visa Inc. and Dynamics Inc., an intelligent card developer, have unveiled the Dynamics Wallet Card, a connected payment card slated for availability early this year, according to a press release.
The Visa-branded version of the wallet card is the same size and shape as a normal credit or debit card, but incorporates features that include the capacity to access multiple cards and a programmable on-card display that enables the delivery of information — such as alerts or coupons — to the cardholder via an embedded antenna.
Wallet Card includes a mobile phone chip and antenna that enable data transfer between the Dynamics Wallet Card and the consumer’s bank anywhere in the world, the release said.
Wallet card features and cardholder benefits include:
– Consolidated access to multiple cards — debit, credit, prepaid, multicurrency, one-time use, or loyalty — in one place, with the ability to toggle between cards or accounts tap of a button. An on-card display shows selected account.
– Instant issuance capability that allows an FI to distribute Visa Wallet Card anywhere — in retail branches or at events, for instance — and allows the cardholder to activate and use the card right away.
– Greater security enabled by the FI’s ability to quickly delete and replace a compromised account number.
– Alerts and messages such as consumer notification of a purchase along with remaining balance information for a prepaid or debit card. Also, the cardholder can receive coupons directly on the display or be notified of a suspicious purchase and click “Not Me” to report suspected fraud and request a new card number.
– An onboard battery that self-charges through normal operation, requiring no maintenance by the cardholder.