You have to admire great execution when you see it – and this morning Jeff Mullen and Philip Yen from Dynamics stopped by our offices to say hello and share some of their excitement at the reactions they’ve been getting to their new “ultra smart” payment cards – they’ve coined (!) them Card 2.0.
We’ve known Philip for years – dating back to our careers at IBM and as colleagues working together later at Visa. We first met Jeff a couple of years ago when he – a patent attorney by background – showed up for one of our public Payments Boot Camps.
Since that time, Jeff, Philip and their team have been hard at working perfecting the idea of these new, sophisticated payment cards – capable to doing a series of new things that the long standing generations of mag stripe, EMV and contactless cards can’t do – and doing it without needing to upgrade the whole POS acceptance infrastructure. A year ago, they closed a $5.9 million Series A financing led by Adams Capital Management.
Yesterday, they won the People’s Choice Award at DEMO along with one of the five DEMOgod awards handed out. The smiles on their faces this morning said it all:
You can watch a video of their presentation at DEMO below.
Jeff and Philip told us to expect more big news about some very innovation applications of their Card 2.0 technologies to be announced by payments industry stakeholders by the end of the year. We can’t wait to see what’s coming!
(Jeff, by the way, carries one of the “fattest” wallets I’ve ever seen – stuffed to the gills with stuff. No wonder he’s been looking for a smarter card solution!)
Scott is a founder of Glenbrook with more than 30 years of experience in information technology. He is a co-author of the book “Payments Systems in the U.S.” and a co-inventor of US Patent 6,332,126 and US Patent 7,840,459. At Glenbrook, Scott focused his work on payments innovation, mobile payments, and social media / Web 2.0 in banking and financial services.
Previously, Scott was group executive vice president at First Data Merchant Services and at Visa International, where he led the development of Visa’s global payment systems strategies. Scott began his career as a systems engineer with IBM, where he held a series of technical management and product planning positions over seventeen years. Scott formally retired from Glenbrook in October 2016, but remains important to the firm as both a friend and advisor.