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.
