The Citibank tests begin in November of 2.0 Card, a new type of card that stores and links multiple savings accounts and credit cards, and that includes security features unprecedented mid-2011 and plans to expand to all base users.
In mid-September, technology-corner.com reported that Dynamics, creative signature of the card, had stolen all the accolades at the annual conference for tech entrepreneurs DEMO, held in San Francisco.
This futuristic card is different from its predecessors in every way. Today, more advanced cards have a chip, which can only manipulate the banks. The Card 2.0 also includes a chip and a battery that lasts up to 4 years, including buttons and graphic displays. Even so, no longer as flexible as a normal card.
Several banks are testing the Dynamics technology, but Citibank overtook them all with the card 2G (second generation), which will allow users to select between 2 buttons: one allowed to make payments ‘reward points’, as offered by some banks and supermarkets, and the other given the option to pay with credit, like any normal credit card. Cardholders can pay both ways in all establishments that accept the new card.
According to The New York Times, the microscopic motor is inside the card that will revolutionize the magnetic stripe technology more than 1,800 Americans from the 50′s. Interestingly, in Colombia, other Latin American and European banks use technology more advanced than the magnetic stripe, such as including a chip with high security, but not go so far as the Card 2.0.
While Citibank and other banks are betting on this revolutionary card from beginning to emerge skeptics, not because they think they should keep what works today, which is usual when there is a revolutionary technology, but because they believe that the plastic and has chips, buttons, and ‘special effects’, will be obsolete very soon when technologies are realized smart phones become wallets.
How soon? It is not known, but if you consider that the major credit cards, Visa and MasterCard, and the firm that has transformed several industries including smart phones, Apple, do not be long.
Anyway, Jeff Mullen, president of the firm Dynamics, is convinced the future of his invention. In an interview with The New York Times, said of Citibank Card 2G only the first steps of a baby, and “we’re trying to be the innovation arm of an industry that never had one.”
To appreciate how the Card 2.0, or as he calls 2G card Citibank, Mashable published in September this video, which itself is a demonstration Jeff Mullen.
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