Card1 platform sets sail on Indiegogo

Payment veteran Randy Smith would like consumers to help his company create a new payment product. Card1, launched Sept. 18, 2015, on crowdfunding site Indiegogo, would aggregate consumer credit and debit card products into a single plastic payment card and cloud-based mobile wallet. Smith is promoting the Card1 platform on TechCrunch Disrupt’s Startup Alley, an AOL Inc. subsidiary that, in 2010, awarded first prize to his previous startup MobilePayUSA.

Card1 combines the benefits of mobile wallet tech with the ubiquity of traditional plastic payment cards, Smith stated. Noting that Europay MasterCard Visa (EMV) and near field communication (NFC) technologies are now in approximately 10 percent of retail locations in the United States, he wanted to find a way to serve a broader population of consumers, particularly younger people who want to use their smartphones to make payments at the POS.

“Millennials live in a digital world and demand the convenience that it affords,” he said. “Card1 provides this convenience along with added security in a solution that works within the confines of today’s payments infrastructure.”

Security, tokenization are key

Smith said that Card1 looks like a conventional payment card but employs advanced data analytics, tokenization and identity authentication software to protect consumers at the POS. Card1 users can use their mobile phone cameras to add payment cards and digital currencies to cloud-based Card1 mobile wallets. Card1 users can also authorize each card payment during the online and in-store checkout process, he added.

As an additional precaution, the app will validate that phone and store locations match before authorizing a transaction, the company pointed out. “We can lock our cars, homes and computers, but not our payment cards,” Smith said, further noting that he designed the solution to turn a single payment card into a fully functional and secure wallet that supports debit, credit, loyalty and rewards programs. “Consumers deserve a universal card they can depend upon to work consistently to make payments.”

Campaign countdown begins

As the countdown continues on the Indiegogo site, Orange County, California-based Card1 is offering an array of micro-level awards to prospective contributors who help Smith and his team of payments executives reach their funding goal of $250,000 for the universal payment platform. The awards, which range from $25 to $50 and include pricing incentives, custom card and wallet holders, are designed to get the new card into consumers’ hands.

Additional information about the Card1 movement can be found on Facebook, Twitter and on the company’s website www.getcard1.com, which is directly linked to the company’s Indiegogo campaign. “With your support and help in recruiting others to also be backers of Card1, we can hit our goal, which will enable us to continue our application and platform development into the next phase, attract the attention of major partners and bring to the world the next-gen, future-proofed, financially secure payment card,” Smith said. “Now it’s up to you, my backers, to make Card1 a reality.”

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