The fintech market is rapidly changing. With large corporations putting their money on the payments industry, think Google, Apple and Samsung, it is almost inevitable that they will be disrupting the payments market. Besides Crypto currencies like Bitcoin that reinvent the banking principles and the way banks think the recognized corporations are aiming at being the new payment processors.
Another stream of disruption are the digital card providers like Plastc card and Coin 2.0. These tech companies aim at replacing all the cards in your wallet by letting you copy your card onto theirs making the original cards unnecessary.
One of the other players on the market is Swyp. Swyp aims to replace your cards by allowing you to copy your cards onto their own card. Swyp can hold up to 25 cards on their wallet and only work with a magnetic strip. The magnetic strip is programmable and through the software and display of the card you are able to select the card that you want to use.
The card is connect to your phone through bluetooth and notifies you when your phone and card are separated from each other. The card will lock when not around making it a secure solution.Swyp does support EMV over time with an over the air update. NFC is not supported unfortunately.
Swipe is expected to be shipped before summer 2016.
For more information check out the video below or visit their website http://www.swypcard.com