i suppose, that we will not be able to use it?
At 03:28 PM 3/11/2011, you wrote:
Now, a credit card that talks to you
PTI
Imagine your credit card talking to you and displaying your balance,
while doubling as a reward card. Well, your imagination will soon
turn into a reality.
Dynamics Inc is developing such cards - due to be introduced in the
US later this year - which will have wafer-thin microprocessors and
would run on batteries that can last up to three years.
However, the credit cards will only display personal information
after a security code is entered.
Citibank has released the new 2G card, which has a programmable
magnetic strip and buttons on the front for users to choose to use
it as a credit card or just to spend reward points, the 'Daily Mail' reported.
A trial is currently ongoing and, if successful, it could roll out
across the country.
Even Mastercard has just released a card that has a small LCD screen
which displays a one-time code which the customer can use to make an
online purchase. It means even if someone's credit card details are
stolen, they will be useless to buy anything with without the one-off code.
Jeff Mullen, the CEO of Dynamics Inc which is working on several
other high-tech cards, explained that the end of the magnetic strip
has been mooted for years, but is still the dominant payment system
in the world.
He said: "Magnetic stripe readers are being placed in more places
than ever before -- like vending machines, movie theater kiosks and taxicabs.
"Even in Japan, where the infrastructure is in place and phones
(which can make payments) have been distributed for seven years, the
volume of phone payments is significantly less than one per cent
share of transactions.
"European chip cards comprise only about 10 per cent of cards in world."
Banks, phone providers, Google and Apple, are also working on mobile
payment systems which rely on short-range wireless technology that
allows electronic devices to transmit encrypted data.
"Although mobile payments is the future, you're not going to move
all that overnight to magical phones. So these are step innovations,
rather than leap innovations.
"Some are very much needed, and some are probably not going to make
it," Todd Ablowitz, President of Double Diamond Group, a consulting
firm on payments strategy technologies and products was quoted by
the British newspaper as telling the 'creditcards.com'
http://www.thehindu.com/sci-tech/article1528589.ece
Vikas Kapoor,
MSN Id: [email protected], Yahoo&Skype Id: dl_vikas,
Mobile: (+91) 9891098137.
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with warm regards
Mahendra Galani
window's live ID [email protected] skype ID chintu3886
phone +4314943149 mobile +4369910366055,
address Herbst strasse 101.16.1 Vienna Austria Europe
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