Dynamics Inc. nailed down $35 million in venture capital from Bain Capital in Boston to perfect its fraud-proof credit cards.
A card-carrying member of the Pittsburgh technology Council, Dynamics produces a paper-thin, flexible computer with high processing capabilities and low power requirements. The computer can be laminated into a number of different card-based products, like credit and debit cards.
Dynamics’ first product is the Dynamic Credit Card. The card periodically changes a portion of a user’s credit card information – both visually and magnetically. In doing so, the Dynamic Credit Card annually eradicates more than $20 billion in credit card fraud and associated costs.
For more details on the deal read it at the Pittsburgh Tribune-Review.
Jonathan runs Visibility Initiatives at the Pittsburgh Technology Council. The Council is the nation’s largest IT trade association with 1,350 members. One of our platforms is to provide visibility to Pittsburgh tech companies and the industry in general.