Thanks to some young bright financial technology engineers you can now consolidate up to 24 credit or debit cards into one card you can use at the cash register, as well as enabling peer-to-peer payments with instant access to funds.
The new Binji payment platform with Mastercard Debit works in tandem with the Binji App via smartphone Bluetooth connection. Binji Card’s digital display screen shows the current balance of your Binji Account, the last four digits of the selected funding source, and a four character “nickname” for fast identification.
Consumers select their funding source by using Binji’s two-button interface to scroll through synced accounts. Once selected, the user simply holds the down arrow button to initiate the transfer of funds from any synced debit or credit card to their Binji Account.
The Binji App is free to download in the Apple App Store and Google Play. Binji Accounts are FDIC insured and allows access to over 35,000 fee-free ATMs. Binji’s in-app GPS map shows the location of nearby fee-free ATMs.
Binji Cards can be purchased at www.Binji.co for $89.
The Binji Card transmits information through its secure, cloud-based processing engine. Credit and debit card information is immediately encrypted in a secure token vault to protect users’ identities. Binji never has access to its users’ decrypted information and if lost or stolen, Binji Card transactions can be turned off immediately via the Binji App.
On average, Binji Card’s battery lasts up to three years, which will typically cover the lifespan of the card from issue through expiration date.
Instantly pay, receive, and request money from friends with Binji’s P2P payments service. Unlike other services, you can use these funds immediately from your Binji Card without having to transfer to a third-party bank.
Binji spending accounts are direct deposit-ready, and each has a unique account and routing number. Users who enroll in Binji direct deposit get access to their money up to two days earlier than what’s offered by establishment banks. (Subject to originator ACH effective date).
The Binji Card provides access to money in your Binji Account, which can store and be funded by up to 24 debit or credit cards at the push of a button. The account may also be funded with direct deposit or when friends send money with P2P.
Last year, another P2P card platform was unveiled. Metal Pay is like a next-generation Venmo or Paypal but with rewards. Called “Pop,” the rewards are delivered in Metal’s cryptocurrency MTL and can be immediately converted into dollars, sent to another Metal Pay user or held as an investment. Metal’s simplified payment system builds on the revolutionary ideas behind Bitcoin, but also rewards the people who use and grow the platform with monetary incentives.