Yesterday, Citigroup announced that it would begin a trial run of a new smartcard that would give users control of their payment method.
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Partnering with intelligent credit card producer Dynamics, Inc., Citi is set to release the Thank You Prestige 2G Card, a credit card installed with Dynamics’ Card 2.0 technology, a paper-thin, flexible digital platform that fits inside a credit card. Citi customers will be able to choose whether they’d like to pay with their credit line or with their membership rewards and a button representing each option sits on either side of the card’s face.
Citi’s smartcard is one of Dynamics’ Redemption model cards, while the company also manufactured the MultiAccount card which has the capacity to store multiple account information on one card and the Hidden card, which requires a password to “unlock” the card for use. The Thank You Prestige also contains Dynamics’ Electronic Stripe, the world’s first fully programmable magnetic stripe on any card available. The stripe can be programmed (and even reprogrammed, it need be) and will last about four years on one battery. Information stored on the card can be changed at anytime.
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Citi will hand out a small number of the cards to customers later this year.