Credit Cards That Will TALK To You By Dynamics Inc.
About 40 years ago, we had a revolution when magnetic strip credit cards were introduced by IBM for the government of United States. The system developed eventually and since then is being used as credit cards in the banking industry. Initially it had many flaws. Too many cases of fraud were reported until when the chip-enable credit cards were introduced in Europe which needed a pin number to pay for the goods. That decreased the Fraud rate dramatically. Since then, many technologies are coming up in this small card so as to make it convenient and safe.
![[IMG]](proxy.php?image=http%3A%2F%2Fwww.crazyengineers.com%2Fwp-content%2Fuploads%2F2011%2F03%2FCredit-card-300x198.jpg&hash=f7fc778948e6fb045ebc59ffa6602e39)
Dynamics Inc. is creating a credit card that will talk to you. The credit card being developed talks to its owner. The company is also developing many more “high tech” cards! The cards are expected to be introduced in the U.S. later this year. The US has been very slow in making the proper changes in the cards to reduce fraud. Well this is mainly because it has about 600 million cards in circulation and replacing them with a new one is not an easy task.
So this new credit will have a wafer-thin microprocessor and it will run on a battery that backs up for about 3 years! It will also have a display and it displays the personal information when a code is inserted! Citibank has released the cards that actually have buttons on it so as to insert the code.
Earlier, MasterCard introduced a credit card that has a small LCD display that shows a one time code which you will require for online purchasing. Hence even if your credit card details get stolen, you need not worry (till you don’t lose your card too!) as the small code will every time come for your rescue.
There are speculations that giants like Google and Apple are working on mobile payment system which will eventually replace the cards all the way. But, this is not going to happen overnight and the process will have to be step wise.
The credit cards have been heavily criticized as dangerous and actually put people in financial trouble. This talking card looks impressive, has a display too. But its more like a gimmick to lure people for taking a credit card. I feel that Debit card transaction in much safer in both ways, safety from frauds and safety from financial troubles.
Dynamics Inc. is creating a credit card that will talk to you. The credit card being developed talks to its owner. The company is also developing many more “high tech” cards! The cards are expected to be introduced in the U.S. later this year. The US has been very slow in making the proper changes in the cards to reduce fraud. Well this is mainly because it has about 600 million cards in circulation and replacing them with a new one is not an easy task.So this new credit will have a wafer-thin microprocessor and it will run on a battery that backs up for about 3 years! It will also have a display and it displays the personal information when a code is inserted! Citibank has released the cards that actually have buttons on it so as to insert the code.
Earlier, MasterCard introduced a credit card that has a small LCD display that shows a one time code which you will require for online purchasing. Hence even if your credit card details get stolen, you need not worry (till you don’t lose your card too!) as the small code will every time come for your rescue.
There are speculations that giants like Google and Apple are working on mobile payment system which will eventually replace the cards all the way. But, this is not going to happen overnight and the process will have to be step wise.
The credit cards have been heavily criticized as dangerous and actually put people in financial trouble. This talking card looks impressive, has a display too. But its more like a gimmick to lure people for taking a credit card. I feel that Debit card transaction in much safer in both ways, safety from frauds and safety from financial troubles.
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