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11/10/2010 -
Credit card technology developer Dynamics has recently won "Best in Show" at the Finovate Fall 2010 conference for its new Redemption card that features new Card 2.0 technology.Of 56 demos at the conference, which recognizes emerging technology in the finance sector, Redemption was a clear favorite among attendees. The new card features payment device technology that allows cardholders to redeem cash rewards or reward points at point-of-sale terminals. In fact, Citi has announced plans to partner with Dynamics in releasing the card.
"In order to realize the power of in-store point redemption, an unprecedented level of innovation had to occur on Citi’s backend processing systems," said Jeff Mullen, CEO of Dynamics.
Dynamics has applied the Card 2.0 technology to security functions for its Hidden card, which features buttons that help protect cardholders' account data. The Multi-Account function, allows users to choose whether they want to withdraw money from either their checking or savings account.
The Redemption card is the third application of Dynamics' Card 2.0 technology, which won the $1 million People's Choice Award and the DEMOgod title at DEMO Fall 2010.
