WORLD
New “Smart Card” credit cards protect against fraud
Baku, January 14 (AZERTAC). Dynamics Inc., which is a small company in New York, has designed cards that can help to eliminate fraudulent activity. These credit cards can have multiple identities. One version of the card will allow the users to have a number 1 or number 2 that they can press. Each number is linked to a different account. This allows cardholders to link to different accounts when they need to, and they are capable of changing the accounts so that they do not use the same accounts in multiple places. Another version of the card hides part of the card number. This version is tailored more towards big businesses. The card has five numbers on it that can make a personal code for the user. When they enter their code, the rest of the card number will appear in digital format. Once the card is turned off, the numbers disappear, and the magnetic strip on the back will erase the data. That way if the card is stolen, old information cannot be read off of it.
These cards are made with a flexible circuit board, a battery, and a programmable magnetic strip. The designers of the card are trying to enter a world where credit cards can be unique for everyone. “We are trying to be a technology innovation arm for an industry where that`s never happened,” stated Jeffrey Mullen, chief executive of Dynamics Inc.
Dynamics Inc. is currently test driving the cards. Citibank is now one of the primary banks using the cards in a trial run. The company is hoping that more banks will start to use the cards in the near future. These cards have been designed with the highest of fraudulent protection. They look and feel just like regular cards. Users can use them in stores and online and feel completely comfortable knowing that their information is secure.