PITTSBURGH-Dynamics Inc. has introduced a new credit card it contends lowers fraud costs.
The company's new "Hidden" card requires a cardholder to first punch in a code via buttons on the card's face to reveal the entire payment card number. The card hides six numbers via a small LCD screen that only displays the numbers when the correct code is entered in. The magnetic stripe is then populated with the correct information.
Dynamics Founder and CEO Jeff Mullen pointed out that if the card is stolen it is useless without the fraudster knowing the unlocking code. "The display is turned off and the magnetic stripe data is erased."
Dynamics has also introduced a MutiAccount card that allows consumers to link to multiple accounts off the same card, and a rewards points/credit card that permits consumers to use one card to pay for a purchase with rewards points or credit.
Mullen would not disclose the cost of the card but said the savings it generates from fraud prevention offset the card's price.
