These are the Amazing Credit Cards of the Future
Credits cards have been the same old credit cards for decades. Sure, there are secure codes on the back that are required for online transactions, and Visa and Mastercard may also offer an extra layer of protection through a secondary password when checking out online.
In real life transactions, countries outside of the U.S. are not going by that magnetic strip and signature anymore. Rather they are relying on a chip that can't be as easily spoofed and a PIN system that's easier to keep secret than your John Hancock.
All of these are great evolutionary steps in credit card technology, but nothing quite holds a candle to the way Dynamics Inc. has used technology to make credit cards much more than just pieces of magnetic plastic.
Check out the demo given to us by Jeffrey Mullen, CEO of Dynamics Inc., at a recent event. Some of you may have these cards already in your possession if you're a Citibank client, but for the rest of us, we can't wait to get something like this in our wallets.
argh .. my eyes .. .so much pain i cannot read !!!
*press*
Maxed.
*press*
Maxed.
*press*
Approved!
...awesome!
*press*
Maxed.
*press*
Maxed.
*press*
Approved!
...awesome!
And indeed Super Awesome.
argh .. my eyes .. .so much pain i cannot read !!!
http://www.barclaycard.co.uk/personal-home/contactless/
Or some random walk-through scanner doesn't ruin the card.
Or some hacker figures out some clever way to jack the card.
Or some other random thing that no one has thought of yet..
Seems like great tech now, but only time will tell how they actually hold up to real life.
Just put a PIN-number on it and it'll be a million times safer.
The fact that you can now 'concentrate' several accounts on a single card is great, but it would be made useless if the card itself was secure enough to manage all your operation through a single identifier.
As an example of that, currently in Europe, with a single SIM card, you can:
- use it as a phone card in a phone booth,
- use it as a limited amount wallet: no online validation needed, the card itself stores a small amount you can debit from,
- use it to manage all your accounts from one of your bank's booth.
The only limitation, again, is that you need one card per bank.
The main use I'd see for one of these improvements is if you had several debit accounts: say, a personal one, a shared one, and a professional one, all at the same bank.
For the battery matter, considering the SIM is powered on by the reader, which still has to cater to older models, said reader should send enough juice for the card's accumulators to charge.