If you’re sick of carrying all of your credit cards, loyalty cards and store-specific cards in your wallet, then prepare to be excited for the latest is credit card technology: SWYP. But before you begin worrying about just how secure a device like this would be, SWYP will only work if it is in range with your smartphone, and locks when it is out of range. And, if you happen to forget your cell phone, there is a pin code directly on the card that will unlock it so that you can use it. So, if you leave your SWYP at a bar somewhere, you don’t have to worry about people stealing it and going nuts on your bank account.
SWYP works anywhere, making the payment process simple. Users will simple scroll through their various forms of payment directly on the card, and then they’re able to pay with that specific card (but still using the SWYP). Users can add as many cards as they’d like, with SWYP being able to recognize and store them all virtually. The Swyp app will also keep virtual receipts of all of your purchases for easy bookkeeping. And if you’re wondering what separates this from a mobile wallet, it is that SWYP is designed to work everywhere your plastic works, whereas mobile wallets only allow you to use your money with NFC enabled terminals. It’s also noteworthy that SWYP isn’t just for credit cards, but also replaces any magnetic stripe based card, like loyalty cards, gift cards and frequent flyer cards. The device will store up to 25 cards on the card itself, and if you have more than that, you’re able to store the rest on the SWYP app.
SWYP isn’t available yet, but you can pre-order one now for 50% for when it releases sometime in Fall 2015.