The FuzeCard Problem – EMV Chip Payments and Bank Negotiations

In the past couple years, we’ve seen the coming and going of several smart card companies promising to merge all your credit, debit, and rewards cards into one smart connected wallet. Despite the excitement surrounding all these products, they seem to run into one common wall when it comes to consumer deployment – EMV “Chip” Payments.

Coin and Plastc Shutdown, leaving millions of backers (and their money) out to dry. While Stratos and Swyp seem to be in a perpetual “sign up to get notified” phase. None of the cards have ever successfully supported Chip and Pin or EMV Payments. Why? Because it requires big connections and a large customer base to convince banks to open up their secure chip and pin technology to your ‘smart card’, and, unfortunately, this requires negotiations with each card issuer.

From FuzeCard’s website:

EMV payments require the approval of the card issuer/banks. Fuze’s chip will be compatible from the launch and this feature will be fully available with a future firmware update

As promising as this may sound, it’s not a software problem that Fuze is up against here and no simple firmware update will give the card the EMV support it needs. BrilliantTS will need to first negotiate with big banks, and that’s a tough sell at least 4 companies have failed to do thus far.

Do their promo cards have working EMV chips? According to their Instagram content, no, not yet.

One post from their instagram shows a box of bpay cards from a startup in South Korea. So, what do bpay and FuzeCard have in common? Both appear to be owned by BrilliantTS.

BrilliantTS’s bpay cards appear to have come to the same brickwall for EMV Payments, indicating only “Reserve Now!” for EMV Chip enabled cards.

bpay Card Options

 

 

 

 

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