Some 40 years after the humble magnetic strip changed banking forever, a new high-tech credit card is heralding another revolution in personal finance. Credit card companies are developing a range of cards that can talk to their owners. They will also be able to display your balance, while also doubling as a reward card, it is promised. The cards, due to be introduced in the U.S. later this year, will have wafer-thin microprocessors and will run on batteries that last up to three years. As companies try to tackle rising fraud, the card will only display personal information after a security code has been entered. A few years ago, Europe moved to chip-enabled cards allowing the user to input a pin number to pay for goods. and as a result fraud has dropped dramatically. (Daily Mail)Thursday, 10 March 2011
The future of banking? The credit card that will spell out your balance
Some 40 years after the humble magnetic strip changed banking forever, a new high-tech credit card is heralding another revolution in personal finance. Credit card companies are developing a range of cards that can talk to their owners. They will also be able to display your balance, while also doubling as a reward card, it is promised. The cards, due to be introduced in the U.S. later this year, will have wafer-thin microprocessors and will run on batteries that last up to three years. As companies try to tackle rising fraud, the card will only display personal information after a security code has been entered. A few years ago, Europe moved to chip-enabled cards allowing the user to input a pin number to pay for goods. and as a result fraud has dropped dramatically. (Daily Mail)