An Interview With FinTech Company APS

We currently find ourselves in a frenzy of e-payment revolution: the payments field is dotted with players as diverse in product as they are in approach. From bitcoin and blockchain enthusiasts, to crowdfunding platforms, to every type of payment app imaginable, everyone seems to agree only on one thing: the traditional credit card's days are numbered.

Yet maybe the idea of carrying a card in your pocket is not—after all, everyone's done it for over half a century now, the infrastructure for it has been in place for generations, and, well, people are used to it. Mr Hunz Lee, whom we feature in this article in our continuing series of FinTech spotlights, is the CEO of APS.

Mr Lee (pictured above) spoke to us about how the card may live on in a completely retooled fashion. First, though, I asked him for a description of his company in 140 characters or less:

APS is a FinTech security company specialised in credit/debit cards with innovative technologies such as e-paper and communication tools.

OK, with no character limit... what exactly is the APS card?

The APS card functions no differently from a conventional card, but with the added feature that it's equipped with technologies like e-paper, Bluetooth, a battery, and an NFC antenna... all fitted to meet ISO standards. It's less than 0.84 mm thick.

"APS" stands for Activation Power System, which provides fraud protection. When you make a payment with it, the credit or debit card needs to be activated by pressing the power button, which then prompts you to confirm the transaction via your smartphone. All the data contained on the card is available only when the user activates the card—at all other times the credit card information remains hidden and blocked.

There are lots of FinTech companies trying to revolutionise payment at the moment. How is APS different?

APS is all about security, with technologies to block fraud attempts, which cost people 40 billion USD each year. The APS card is also not an electronic appliance like some, or even most, other e-payment offerings. Rather, it's the same as a conventional credit card and can thus utlilise the existing payment networks and terminals that are already widespread and firmly in use.

I would also like to mention is the price—when it comes to revolutions, I can indeed say that we have revolutionised the price for such an e-payment solution.

What stage of growth are you in currently?

We incorporated as a company in April this...