How they describe themselves: Dynamics has three business units – an intelligent card, value-added processing, and phone payment technology business unit. The Company’s intelligent card division has introduced market defining card products such as the world’s first multiple account card (Canada), the world’s first password protected card (Asia), and the world’s first multiple co-brand card (USA). The Company’s value-added processing division provides real-time loyalty or purchase notification to millions of consumers and includes customers such as Tim Hortons and the Upper Deck Company. LG Electronics leverages Dynamics technology in LG Pay.
How they describe their product/innovation: Wallet Card™ is a new product from ten year old Dynamics, who has raised over USD $110 million (most recently a $70 million round led by MasterCard). Wallet Card™ is the world’s first network-approved “connected” payment card. Its 65,000 pixel display can depict all cardholder information (name, account number, security code, expiration, network logo). It has a battery and an organic recharging chip that recharges the battery without requiring any change of use. The card has a telecommunications chip so it can receive data wirelessly such as new card downloads (e.g., new magstripe, EMV, and contactless data) and customer notifications.
Product distribution strategy: Through financial institutions