Dynamics Inc. has introduced a magnetic stripe card that can use dynamic data at the point of sale to improve security.
Dynamics, a Pittsburgh vendor, sells payment cards with rewritable magnetic stripes.
This feature can be used to obfuscate data if a card is lost or stolen, or to rewrite the stripe to let one card be used with multiple accounts. The company's newest feature adds security at the point of sale by writing a unique code to the stripe for each transaction.
Unique codes are already used for point of sale transactions with contactless cards.
If a thief steals the card data from a merchant, the unique code generated for the transaction would not be accepted a second time. Companies such as Visa Inc. have talked about using dynamic data with magnetic stripe cards, but earlier plans required using special readers.
The Dynamics technology works "both domestically and internationally, without changing a single card reader or impacting a single merchant system," Jeff Mullen, Dynamics' chief executive, said in a press release Tuesday.
Dynamics' cards can also be built with a display to show a one-time-use code for online purchases.
