Citi has introduced a new card form factor incorporating programmable mag stripe technology from Dynamics Inc. This implementation will allow consumers to pay with Citi “Thank You” points at the point of sale or to select regular credit (paying without reward points), presumably at participating retailers with suitable POS technology
or via back end settlement.
The national pilot launch of the Citi 2G credit cards
utilizes the latest in payment device technology, and features two buttons on the front of the card which allows customers additional choice at the register. The options to choose from include “Regular Credit,” to pay for their purchase with credit as they normally would, or the “Request Rewards” button which would allow them to redeem points or cash rewards with a simple swipe of the card. When the cardholder presses one of the buttons, the card is activated, and the corresponding light will turn on to confirm the option selected.
The size and shape of a standard credit card, Citi 2G cards feature programmable and electronic components, including a battery, an embedded chip, two buttons, and a card-programmable magnetic stripe. Citi 2G cards can be used wherever credit cards are swiped, at millions of merchants worldwide.
Please note the article contains a link to a promotional Youtube video describing the pilot program, and linking the implementation to Citi’s Thank You rewards program.
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