October 21st, 2010 
Ryan Parker 
Two concepts that address security concerns of credit cardholders are being discussed around the industry. One deals with the problems that can arise when using multiple cards. The other, a People’s Choice award winner at the recent Demo technology conference, offers an innovative way of securing the data stored on magnetic stripes.
Hidden Card by Dynamics
The idea behind this concept is security for the account information stored on a credit card. The front of this battery-operated card will display only part of the 16-digit account number. The cardholder enters a PIN on a set of five small buttons on the surface of the card to display the remaining numbers on the electronic display. After a specified period of time the screen will power down, erasing the account numbers on the magnetic stripe, rendering the card useless to unauthorized users who don’t know the PIN. The result is fewer fraudulent transactions. The cards work like other standard cards, including at card readers and ATMs.
Electronic Stripe Card 2.0 Technology
Many businesses and consumers juggle multiple credit cards for a variety of reasons. One card may a be used to earn travel miles and other rewards, while another may be used exclusively for online purchases. Sometimes consumers apply for new accounts when an introductory zero APR offer is available. Whatever the reason, multiple credit cards can cause confusion and may result in late or missed payments.
A new programmable credit card was introduced by Dynamics, Inc., at the Demo tech conference that addresses this issue. Winning the top DemoGod award of $1 million in free advertising with IDG Media, the technology will allow multiple accounts with the same institution to be accessed through one card via a programmable magnetic stripe. The new card concept, the Electronic Stripe, is the brainchild of Jess Mullen, chief execturive of Pittsburgh, PA based Dynamics, and will offer better protection when one card is all that’s needed. “We have built an efficient computer architecture and embedded it inside the cards,” Mullen said in an interview. “We call it Card 2.0. We think a card holder can have communication with their bank at the point of purchase. That’s where it’s going.”
Switch from your business account to your personal account in a matter of seconds. Simply press a button on one of Dynamic’s MultiAccount cards to switch between accounts; a light will indicate which account is currently active on the card. A single card can last more than three years on one battery charge. The company will reveal more details about the design later.
The new technology would not make any changes to the existing infrastructure of magnetic stripe readers in 60 million locations, handling 90% of today’s credit card transactions. In all other ways, the card would be used like any other standard credit card, recognized at millions of merchant credit card readers. The purchase will be processed on Visa, MasterCard, or other card networks as a normal transaction.
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Tags: Cards, Cards Future