|By Business Wire||
|July 19, 2012 11:01 AM EDT||
Dynamics Inc., an innovator in next-generation payment cards, today announced it has been certified as a payment card production vendor for the MasterCard payment network, a move that provides consumers with new battery-powered MasterCard-branded cards offering special spending, security, and personalization options.
Dynamics Inc., Cheswick, PA (Photo: Business Wire)
Dynamics has pioneered the creation of battery-operated payment applications that integrate full computer architectures, which may include buttons and displays, into the cards to provide new features. MasterCard cardholders, for example, could push a button that allows them to pay with loyalty points instead of their credit account. Buttons also could be used to require someone to enter a personal unlocking code to authorize a payment, adding another layer of security.
The MasterCard Certification announced today means the Dynamics card production facility meets MasterCard’s security requirements.
“MasterCard Certification of Dynamics’ proprietary personalization process is a significant milestone for Dynamics. The Certification enables us to introduce innovative payment technologies to consumers that can provide added payment services and enhanced security,” said Jeff Mullen, Dynamics CEO.
“MasterCard continues to be the network leader of payments innovation by enabling new products for the benefit of our issuers, merchants, and end consumers,” said Mario Shiliashki, SVP, U.S. Emerging Payments, MasterCard. “By working with Dynamics on certification, we hope to give consumers access to new payment technologies that can be tailored to meet their needs, so they can pay when, how and where they want.”
About Dynamics Inc.
Dynamics Inc. was founded in 2007 by Jeff Mullen. Dynamics produces and manufactures intelligent powered payment cards and advanced payment platforms. The company has won many of the world's most prestigious international business plan competitions, including the Rice Business Plan Competition, Carnegie Mellon McGinnis Venture Competition and the University of San Francisco Business Plan Competition. The company won DEMOgod and the $1M People's Choice Award at DEMO Fall 2010, Best of Show at FinovateFall 2010, FinovateFall 2011, and FinovateEurope 2012, Best of Show at Cartes 2011, and Best of Show at BAI Retail Delivery 2011. Dynamics won Best in Show for Personal Electronics and Technology Honors at the 2012 International CES show. Dynamics investors include Adams Capital Management and Bain Capital Ventures. Dynamics is headquartered in Pittsburgh, Pa. For more information, visit: www.dynamicsinc.com
MasterCard (NYSE: MA), www.mastercard.com, is a global payments and technology company. It operates the world’s fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. MasterCard’s products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone. Follow us on Twitter @mastercardnews.
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