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Dynamics Inc. and Sumitomo Mitsui Card in Business Alliance, World’s First Locking Credit Card Slated for Upcoming Release

The world's first locking credit card (Photo: Business Wire) Multimedia Gallery URL

LAS VEGAS--(BUSINESS WIRE)--

(CES)--Dynamics Inc. (Head office: Pittsburgh, Pennsylvania, USA; CEO: Jeffrey Mullen) and Sumitomo Mitsui Card Company (Head office: Minato-ku, Tokyo; Representative Director and President: Takeshi Kubo; “SMCC”) announced at CES (Consumer Electronics Show, booth 30359) 2018 currently being held in Las Vegas, USA, plans to introduce the world’s first credit card with a locking feature to the Japanese market in 2018.

This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20180110005429/en/

The new card features LED lights, an LCD, and touch-activated buttons for entering numbers. The card is activated for use each time by entering a password set by the customer with the touch buttons on the card. Once activated, the card number is displayed on the LCD, and the magnetic stripe and IC chip functions stay active while the number remains on display. Consequently, the card can be used for in-store payments, as well as Internet payments. After the card is used, the card number on the LCD is hidden, and the magnetic stripe and IC chip features shut down, so the card is no longer usable.

The password to activate the card is set up by the customer after receiving the card. The setup is complete in a few seconds by entering the desired password just two times.

This card works with the existing payment infrastructure and merchant systems (terminals or the like). Consumers may use the card wherever Visa is accepted.

At CES 2018, SMCC Executive Officer Masao Kamino announced, “Today we introduce the world’s most secure payment card planned for introduction into the Japanese market. This new card has adopted an industry-first system, and brings best-in-class security to all payments in-store and online.”

Dynamics Inc. CEO Jeffrey Mullen announced, “We are very pleased to work with Sumitomo Mitsui Card on delivering such a revolutionary payment experience to the Japanese market. This is just the first step. Through this new card, we shall provide new value to the Japanese consumer, and together with Sumitomo Mitsui Card we will deliver further value into the future.”

Dynamics also unveiled Wallet Card™ at CES 2018, the world’s first card that can remotely download card information. For this latest technology, the Consumer Technology Association (CTA) awarded Dynamics with four CES Innovation awards including the Best of Innovation Award for Security Technologies. It was an honoree for Computers, Embedded Technologies, and Technologies for a Better World. This marks the first time in history a payments consortium has been awarded the consumer electronics industry’s most prestigious award.

Sumitomo Mitsui Card will leverage this award-winning technology and issue a new type of card as a world first.

About Sumitomo Mitsui Card

Since its inception in 1967, Sumitomo Mitsui Card has driven Japan’s credit card industry for a half century, initially as the pioneer for Visa in Japan, and then as the total payments business operator leading cashless transactions. Through alliances with fintech enterprises within and outside Japan, providing the latest merchant solutions that promote inbound tourism and regional development, and launching issuance of prepaid cards that work around the world, the company is actively promoting product development that supports diversifying customer needs, and the structuring of new business models that meet the changes in time.

About Dynamics Inc.

Established in 2009, Dynamics has three business operations: cards, processing, and mobile payment. The Company’s card division has alliances with financial institutions in Europe, US, and Asia; the processing division has an alliance with a major Canadian financial institution, and the mobile payment division has an alliance with a major mobile handset carrier of Korea. The company executes product development to match the needs of respective countries around the world. In addition to its global headquarters in Pittsburgh, Dynamics operates multiple manufacturing facilities, personalization facilities, and data management facilities, with its APAC headquarters in Singapore, LATAM headquarters in Sao Paulo, Brazil, and EMEA headquarters in New York. More information on the company, its technology and products can be found at www.dynamicsinc.com.

About Dynamics K.K.

A wholly owned subsidiary of Dynamics Inc., Dynamics K.K. was established in 2017 in Koto-ku, Tokyo, a Japanese corporation that supports issuance of cards.

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