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Online Payments

Visa and Dynamics unveil the first IoT Wallet Card

Wednesday 10 January 2018 | 01:26 PM CET

Visa and Dynamics have unveiled the Dynamics Wallet Card, an Internet of Things (IoT) device that holds multiple payment cards.

The new Visa-branded Wallet Card allows users to access multiple cards, EMV, contactless or magnetic stripe-based, on a single device that incorporates a display for viewing account information, such as alerts and coupons.

Wallet Card includes a mobile phone chip and antenna so data can be transferred between Wallet Card and a consumer’s bank anywhere in the world and at any time of the day.

Apart from allows access to more credit and debit cards, the Wallet Card also provides instant issuance (financial institutions can distribute Visa Wallet Card anywhere and at any time with immediate activation) and greater security, as a bank can quickly delete a compromised card account number and replace it with a new account number.

The 65,000 pixel display can be used to message or alert users after every purchase and inform them about their remaining balance. Cardholders can also receive coupons directly on the display or be notified of a suspicious purchase and click on “Not Me” to report suspected fraud and request a new card number.

More: Link
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