CES: Emirates NBD to roll out new connected card
New payment card with embedded cell phone chip promises new levels of security and functionalities
A new connected digital payment card has been launched at Consumer Electronics Show (CES), with UAE’s Emirates NBD among the first banks expected to issue it.
The card embeds a cell phone chip and cell phone antenna so data can be transferred between the card and the bank anywhere in the world and at any time.
Dubbed the Wallet Card, it has been launched at CES by payment technology firm Dynamics Inc., in conjunction with international banks, card issuers, payment networks, and telecommunication operators.
The Wallet Card incorporates a full telecommunications platform in the same size and shape as a normal credit or debit card. With almost 200 internal components, this IoT device incorporates a card-programmable magnetic stripe, card-programmable EMV chip, and a card-programmable contactless chip. At any time, a new card profile can be downloaded to the card so that when that card is selected, the card’s magnetic stripe, EMV, and contactless data is written to the associated components.
A battery and organic recharging chip have been inbuilt into the card so that the card charges itself through normal operation. Wallet Card can last indefinitely without the need for the consumer to perform any physical action. A 65,000 pixel display and user interface allows the cardholder to change between different cards and informational screens.
The Wallet Card promises enhanced security features including the ability to instantly delete the compromised card account number and replace it immediately with a new account number if a data compromise occurs at a merchant to reduce fraud risk.
With a single Wallet Card, consumers can also access their debit, credit, pre-paid, multicurrency, one-time use, or loyalty cards on a single card with the tap of a button.