Credit card technology has officially moved into the 21st century. “Payments 2.0,” a system created by Dynamics, Inc., allows you to use one card make payments from two accounts. The company has attached the technology to two new products, “MultiAccount” and “Hidden,” which are meant to offer consumers convenience and security.

The card is so versatile because the information contained on its magnetic stripe can be changed at any time. The readable information on the card’s “Electronic Stripe” is altered when you press buttons on the front of the card. Payments 2.0 represents the first time card information has been able to change at the touch of a button. The cards work with standard card readers you would find today in most retail stores.

Dynamics, Inc., founded in 2007, was named by one of the top start-ups at this year’s DEMO, a convention for new tech businesses. The company displayed its Payments 2.0 technology at the event.

Two Cards in One

The MultiAccount card lives up to its name, allowing you to use two cards without carrying two cards. MultiAccount includes two standard, 16-digit card numbers, each situated next to a button. You can select “Button 1” to use one account for payment or “Button 2” to use your second account. Each button has a light next to it so you know from which account your payment will come. This simple card can be used at any card reader.

Fraud Protection

The Hidden card offers groundbreaking fraud protection measures. Using Payments 2.0 technology, Hidden hides a portion of your card number. To even use the card, you need to use the five-button face of the card to enter a personal identification code. Once the card is unlocked using the code, your payment information is displayed and the card’s magnetic strip is populated with your account information. After you use the card and put it away, the strip and number eventually fade from view. This means that if you lose the card, it would be rendered virtually useless to anyone without your personal code.

A Dramatic Change

If Dynamics’ Payments 2.0 catches on, it could trigger a huge shift in the way you pay for things. It will be interesting to see how the technology is implemented: Will card issuers utilize the system and make it available to consumers? How much will the cards cost to issue? Will consumers see the value and be willing to pay more per month for the privilege of using a state-of-the-art card?

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  • Anonymous

    Great new innovations that are desperately needed by the antiquated credit card system in the US.. Thank you Jeff Mullen and Dynamics, Inc. I can’t wait to get my cards changed to the new Dynamics 2.0 / 2G technology.