Dynamics Inc., SoftBank Corp.
and SoftBank Commerce & Service Corp.
Agree to Comprehensive Collaboration
in the Field of Battery-Powered Interactive Cards Companies to Deploy New Cards such as Credit Cards
Embedded with Mobile Communication Chips in Japan
October 18, 2018
SoftBank Commerce & Service Corp.
Dynamics Inc., SoftBank Corp. (“SoftBank”) and SoftBank Commerce & Service Corp. (“SoftBank C&S”) agreed to consider a comprehensive collaboration for the deployment of Dynamics' battery-powered interactive card in Japan.
Based on the agreement, SoftBank will support Dynamics Inc. on mobile connectivity and SoftBank C&S will support on service planning, marketing and sales expansion as strategic partners. The companies plan to start services from 2019.
“We are very pleased to be able to bring such an innovative payment experience with SoftBank and SoftBank C&S to the Japanese market. This is only the first step. Through this technology we will continue to provide more products of value to Japanese consumers,” said Jeffrey Mullen, CEO of Dynamics Inc. “We are extremely impressed with SoftBank's achievements of capturing technological innovation and market trends, and we hope to have a great synergy between the three companies in the future. With this collaboration, we are convinced that we can drive change and growth in the market environment and business environment in Japan through Dynamics' technology.”
“We are very happy that we can co-create with Dynamics, a company that has advanced technology and a completely different credit card embedded with communication functions as one of the IoT businesses that SoftBank is promoting. We believe that the development of IoT technology will improve quality of life and we will help accelerate this movement,” said Hidebumi Kitahara, Vice President, Head of Global Business Strategy Division, SoftBank Corp.
“Thanks to technological innovation, we are delighted that we have gained the opportunity to contribute to the domestic cashless economy through the Internet. In addition, we will make efforts to spread the adoption of Dynamics' next-generation credit cards and make new proposals to further accelerate the cashless economy in Japan by making effective use of our know how of planning & selling of ICT products, manufacturing and distribution, which SoftBank C&S is engaged in,” said Yasuo Mizoguchi, President & CEO of SoftBank Commerce & Service Corp.
About Dynamics Inc.
Established in 2009, Dynamics has three business operations: cards, processing, and mobile payment. The Company's card division has alliances with financial institutions in Europe, US, and Asia; the processing division has an alliance with a major Canadian financial institution, and the mobile payment division has an alliance with a major mobile handset carrier of Korea. The company executes product development to match the needs of respective countries around the world. In addition to its global headquarters in Pittsburgh, Dynamics operates multiple manufacturing facilities, personalization facilities, and data management facilities, with its APAC headquarters in Singapore, LATAM headquarters in Sao Paulo, Brazil, and EMEA headquarters in New York. More information on the company, its technology and products can be found at www.dynamicsinc.com.
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