New credit card allows people to switch account

By Sarah Engle, Thu 12 Jan 2012 - Published in Credit Cards

A new hi-tech credit card that could render all other competitors obsolete is to set to be trialled in the UK.

The new card allows consumers to switch between accounts at just the switch of a button on the payment method itself.

Many people carry a host of credit cards in their wallet at any one time but experts believe that this development will blow all other cards out of the water.

Users will be able to access different accounts on the device as it has an interface including buttons and a screen. The card is already in use by US bank Citibank, and makers Dynamics inc said it was already in "advanced" discussions with UK banks and hoped to begin trials within months.

Eziah Syed, of makers Dynamics, said: "We've squeezed an entire computer into something the size of a credit card. These cards are about making things easier, and we think that in high volumes the costs are very low."

Since the Christmas period many Brits have been turning to credit cards as a financial solution due to a number of low interest rates offered by building societies.

News Categories

News Archive

News: New credit card allows people to switch account