Interesting FinTech May Replace all Your Cards With One Card.


Interesting FinTech May Replace all Your Cards With One Card.


This may be a great year for electronic payments. Mobile payments technology company, Qvivr envisions coming up with a single card and app combo that promises to replace the digital cards and gift and loyalty cards in your wallets. The Silicon Valley-based FinTech startup has been able to raise $5M in Series A funding.


Work in Progress on Swyp – The Smart Wallet

Qvivr has been working on developing a thin metal card integrated into a smartphone app that will replace all your cards. The smart wallet or Swyp card will come with a small display screen and three buttons. The wallet will use a rechargeable battery with a life of two years.

Related: What Payment Options Do Consumers Want for eCommerce?


How Will it Work?

  • Set up an account
  • Establish a connection between the card and phone via Bluetooth
  • Add payment and loyalty cards
  • Toggle through the cards and select the payment option using the buttons on the card
  • Make a purchase or use an ATM

There is a heavy rush for Swyp, with tens of hundreds of people interested to invest in the product, which was supposed to be ready for sale last year. A few manufacturing issues resulted in the delay, but the company plans to resume shipments in the summer.

Founded in 2014, the company started with Swyp with a promise to give fierce competition to other multi-account cards, including Coin and Stratos. However, these devices never took off and ended up shutting down. The company will not take up further orders for the product once it fulfills the present commitments.

Related: How Important are Faster Payments?


What is The New Funding For?

Leveraging its experience and technology in developing its first product, the FinTech company is looking for funding avenues for its new product. The proposed hardware product will be designed for millennials and promises to simplify personal finance management and make payments simpler for users. The company says its new revolutionary product will use some of the Swyp technology and provide “unique customization and convenience” for millennials, who look for no less than convenient, well-designed user experiences.

The “new product” is expected be a swipe card that uses the graphic display technology of SWYP, without featuring multi-card capabilities.

It remains to be seen to what extent both products fulfill their promises while delivering a new user experience for the present and next generation.


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