Smart devices & lifestylePayments & fintech
Economy: discovering Fuze
· Michel Aguilera
We recently discussed the rise of neobanks, citing the Revolut system in this article. Today we are going to look at a payment system capable of bringing our various cards together into a single one. The product is called Fuze. We will also focus on the other alternatives on the market. A dive into the world of next-generation credit cards.
And your money… does it all add up?
To approach the Fuze system, you need to know the basic idea, namely: all your cards… in one! It may sound complicated, but the company BrilliantTS took on this project. The result is a card with an embedded electronic solution that can manage up to 30 different cards.
After adding all your cards to the Fuze Card via the app/reader on your smartphone, you use it like an ordinary credit card.
Quick and easy: when paying, you simply switch from one card to another by pressing one of the buttons on the front. The name of each of your cards is clearly shown on the screen.
Note that the card runs on a battery that lasts 30 days. After that, you will need to recharge it using a travel-size charger, specially designed and supplied with the card. Having to make sure the charge level is sufficient is perhaps its only small flaw.
In terms of wireless transmission, the card works with Bluetooth and NFC.
To get an idea of how it works “for real”, here is a short video from the product launch:
The concept has of course been copied by others (although not everyone has entered this universal card market yet). One example is Swyp. A similar concept, but not yet available.
It should be pointed out, however, that for now none of these solutions work with chip technology (only with magnetic stripe readers). One of the most interesting competitors will undoubtedly be Curve. A system that lets you register your various cards onto a single one via a dedicated app (except that here, the card itself is nothing special, apart from the way it is managed). A short video:
Not yet available in Switzerland, this solution should arrive soon and would be a more than interesting alternative, given the additional services offered (compared with what the usual credit card issuers provide).
In short… can we actually pay with this?
We have to face the facts: we are at the beginning of this new way of paying, aimed at the new generations, who handle their mobiles faster than their own shadows. It undoubtedly brings great flexibility in managing your finances and in day-to-day monitoring. New payment methods are all the rage and haven’t finished surprising us.