The Mastermind Behind NYC's Newest Black Card

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Aug. 19 (Bloomberg) -- Magnises CEO Bill McFarland discusses the company's new black card that grants special access to New York's most exclusive clubs and events. He speaks with Pimm Fox on "Taking Stock." (Source: Bloomberg)

Than that.

I am a technology entrepreneur but i have been interested in payment tools and credit cards.

I was a dinner with 10 or 15 other entrepreneurs and we had our random credit cards to pay the bill and we saw this hodgepodge.

I asked everybody how they chose their bank and credit card in every single person said they picked the bank based on locations.

I said this is 2014, that makes no sense.

Why are you picking your bank or financial position based on brick-and-mortar locations?

Are realize all these financial services, particularly those based on credit and credit cards, they are a commodity and the effect life.

Is a huge opportunity to build this product that enhances and really improves your everyday life.

It connects you to all of these exclusive events and the card itself is linked to run credit card, whatever it is?

Collects exactly -- exactly.

What will be one access that you can describe to people?

Unlike traditional credit cards that is focused on these perks like travel and flights, we're more about things you want to use everyday.

Car services, restaurants, nightclubs.

This text has been automatically generated. It may not be 100% accurate.

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