- Jeff Mullen, founder and CEO, Dynamics Inc.
Jeff Mullen was in a unique position to combine expertise in technology, business and law to found Dynamics Inc., a company centered around one of his many innovative inventions. His Card 2.0 technology, described as the “holy grail” for the payments industry, can send dynamic information through the domestic payment infrastructure for the first time without necessitating change to the existing system of magnetic strip readers.
The former patent attorney, who is considered one of the most prolific young inventors in the country, is teaming up with Citi, the world’s largest card issuer, to introduce the card-programmable magnetic strip this year. The Card 2.0 technology is a paper-thin, flexible yet durable computer platform in payment card form. Designed to last for three years on a single battery, buttons and even displays can be added to the platform to enable users to input and receive information from the card.
Dynamics aims to grow in size to support the continued national release of Card 2.0, both in terms of staffing and production. Mullen, who founded Dynamics while pursuing his MBA at Carnegie Mellon, plans to keep the company in the region long term throughout this rapid growth. In addition to keeping his business in the Pittsburgh area and utilizing the wealth of magnetic expertise in the region, Mullen is committed to performing the final assembly and personalization of Dynamic’s cards within the United States.
Mullen has won a number of international business plan competitions, while his 2.0 Card technology won Dynamics both the DEMOgod award and the $1 million People’s Choice Award at DEMOfall 2010. The company also won Best in Show at Finovate that year, and Best in Show for Personal Electronics at CES 2011, the first time a payments company has won a CES tech award.
How to reach: Dynamics Inc., (412) 369-4600 or www.poweredcards.com
