Dynamics Inc. announced its Triple Interface payment device, a battery-powered piece of plastic that ties together all three primary payment technologies – magnetic stripe, EMV and contactless – into a single, rewriteable format.
A user can select a desired payment option by simply pressing the different buttons on the card. When different payment options are selected, the central computer architecture re-writes the information on the proprietary stripe, contact and contactless technologies. The desired information is then securely communicated regardless of if the card is swiped, inserted or tapped.
Dynamics’ Chip and Choice contactless product changes information on a contactless chip profile at the push of a button. Until the button is pushed, no information is stored in the chip. After a period of time, information stored in the chip profile is erased. As a result, contactless skimming technology cannot be used to steal information off a Triple Interface device while it resides in a consumer’s pocket.
The Triple Interface device can be used in any terminal in any country to make any purchase. A consumer can now enjoy payment options – at the push of a button – using any core payments medium.