Dynamics Inc., a producer and manufacturer of payment cards, won the Best of Show award at FinovateFall 2011 in New York City with its Chip and Choice technology.
Dynamics' Chip and Choice technology includes two chips -- a secure, embedded chip and an exposed chip. A user can select different payment options by pressing different buttons on the card. Dynamics' secure, embedded chip then writes a different, temporary chip profile into the exposed chip based on the user's selection.
In doing so, a user can select and use different payment applications even with readers that do not support such applications.
Finovate, which took place Sept. 20 and 21, is an annual financial technology innovation conference, and the Best of Show award winner is determined by votes from the event's attendees. Approximately 1,000 industry decision makers attended the event, and 63 companies demonstrated new technology at the event.
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