Dynamics Inc. has snagged $35 million in a Series B round of financing led by Bain Capital Ventures. It will use the funding to increase the size of its team and production capacity to support the US deployment of its Card 2.0 technology.

The company has developed cards with embedded buttons and graphic displays which are as thin as a standard credit card. These are currently being tested by the likes of Citi. Dynamics will also use the funding to continue to develop and deploy battery-powered contact chip EMV cards, battery-powered RFID contactless cards and phone-based payment systems.

"Payment cards generate more than $3 trillion of annual purchase volume in the US alone, and card issuers spend more than $20 billion annually to attract and retain cardholders," says Jeff Schwartz, managing director, Bain Capital Ventures, who is joining the Dynamics board of directors. "Dynamics offers card issuers the ability to meaningfully differentiate their card products and to provide unprecedented payment functionality to their cardholders. It is the only company that provides issuers with this capability without requiring a change in the PoS infrastructure, delivering breakthrough innovations within the established payments ecosystem. Our technology and product applications have been enthusiastically validated by several top card issuers, payment networks, and consumer groups, and we believe this will be the most impactful technology company in the payments industry." ."

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