Citi Redemption Card Allows You To Hit A Button To Select Payment Method

We previously filled you in on the next-generation credit cards from Dynamics, and now Citi is using such a solution in its Redemption payment device that sports a credit card form factor. The card features two tiny buttons that allow you to choose whether to charge a purchase normally or redeem your reward points or cash rewards towards the purchase. The card will be trialed with selected Citi card customers. The card will be able to function at any merchant where magnetic stripe readers are used, and when a user selects the desired method of payment, the magnetic stripe information associated with the payment option is then written to the electronic stripe, after which it can be swiped like any normal credit card. Will all our future credit cards feature such technology?

Matthew Chung
Categories: General
Tags: credit card