The first EMV-compliant Dream credit card has just been announced. The Dream card, which is being introduced to the Pakistani market, is the first card to have this smart chip technology in place. This chip keeps track of loyalty and reward points while also increasing the security of the card
In order to use the new Dream card, the user must enter a PIN code into the credit swiping machine. This way, if the card is lost or stolen, anyone trying to use the card will be thwarted (unless the carrier of the card is dumb enough to write the PIN on the card – it happens a lot). In addition, any reward points earned from the transaction are instantly added to the chip. So, for those that can’t wait to know how much they are getting back from the card, the chip offers instant feedback on rewards points.
The new card also makes it easy to earn points. Every time it is used, the user receives loyalty points. This includes using the card at ATM machines. And, not only are the points tallied immediately, they can be spent immediately too.
This new technology isn’t being offered in the US yet. But, whether you are a Visa fan or a MasterCard fan, you will most likely be able to eventually get your hands on one of these new Dream cards because they are being offered by both companies. And, if all goes well in Pakistan, the concept is sure to spread.