Citi is to pilot a new line of credit cards that allows consumers to press an embedded button on the surface of the plastic to select their preferred payment or points redemption option.
According to a demo at one such event in the US, the CEO of Dynamics mentioned that Card 2.0 works on the existing point-of-sale infrastructure in use at merchant premises, which will however need complete overhaul in the case of migration to EMV / Chip-and-PIN.
Dynamics is obviously betting that the chances of the latter happening are slim given its exorbitant costs. Besides, an issuer bank has the option to launch only one or two categories of cards based on Card 2.0, which again keeps the investment in check and
might provide the required sweetspot for the widespread adoption of Dynamics.
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