MasterCard and Dynamics Partner to Drive Innovation within Interactive Payment Card Market

In conjunction with the Series C funding announcement issued earlier, MasterCard and Dynamics Inc. also announced a joint commercial initiative to drive innovation in the interactive payment card market. The collaboration enables MasterCard to offer exclusive Dynamics products to its issuers globally, providing consumers with added choice, flexibility and security at the point of sale.

Dynamics technology and manufacturing capabilities produce payment cards that enable issuers to meaningfully differentiate their card products and to provide extraordinary payment functionality to their cardholders. Dynamics next-generation interactive payment cards are built with features such as buttons, displays and LEDs. These technologies provide consumers greater card functionality including the ability to select applications that are stored directly on the card itself, all with the assurance that every card is completely compatible with existing POS terminals. Dynamics also pairs their card technology with interactive mobile applications to help move the consumer that much farther into the digital world.

The technologies have many practical applications and will allow issuers to offer multiple consumer features and functions in one card. This includes cards that offer consumers multiple selectable currencies, access to both debit and credit accounts, and cards with a co-brand that offer credit or debit in conjunction with a separate loyalty application.

As safety and security in everyday payments is at the heart of MasterCard’s business, its expertise in these areas will also enable the companies to develop new security-oriented products on a global scale while continuing to allow consumers the choice of how they pay. Working together, MasterCard and Dynamics will deliver to issuers innovative payment cards for a global consumer base that continues to move away from cash and seeks personal technologies that deliver convenience and security for their daily lives.

“Interactive payment cards give cardholders an unprecedented level of customization, control, and security at each and every purchase at any point-of-sale device in the world,” said Jeff Mullen, Chief Executive Officer, Dynamics. “With interactive payment cards, banks can expand card offerings by providing cardholders with several additional on-card payment options that cardholders can select at each purchase. By giving consumers easy access to additional options, banks can enable several business models on a single card while building brand and an enhanced cardholder relationship with each purchase.”

“At MasterCard, we are focused on driving innovation across the entire payments industry, and continue to invest in the technologies, solutions and companies that will help our customers and partners expand their business and serve their cardholders in new ways,” said Carlos Menendez, Group Executive, Global Credit and Debit Products at MasterCard. “In working with Dynamics, we have secured a partner with deep technology capabilities and market-leading manufacturing capabilities to help drive innovation in the interactive payment card market while moving in lockstep with MasterCard’s mobile and digital enablement strategy.”

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