To rule them all
That works with magnetic “swipe through” cards.
But in Germany, all debit cards use a chip now.
Currently the magnetic stripe is still there as a backup, but not for long anymore (and it is strongly recommended to not use magnetic only readers for payment anymore).
And since every bank uses their own security keys on the chip, which is not copy able (or at least it shouldn’t be), you can not copy it to another card.
Even credit cards in Germany have chips.
And who secures that the waiter does not switch the selected card (by accident of course : ), by tapping the button when going to the register?
And, one reason for having multiple cards is to have a backup if you loose one, or it does not work for any reason. If the coin is damaged, you are screwed.
And what if the card requires to have your picture on it, to allow the cashier to check your identity.
And: If one has this thing, and gets your card in his hands, he can quickly copy your card, and pay with it. So is this a tool for credit card cheating (right phrase here ??). :think:
So I see so many problems, which are there, or people will think that they are there, that the success of this thing is questionable.
But then: people are stupid. they would by anything with a cool add that adds another function to their iPhone.
And even me was thinking one than more time how nice it would be to have a single card for everything :whistle:
I agree that I would prefer more security than what magnetic strip provides. The cool thing is that this thing can be used for non credit cards as well (membership cards, loyalty, etc.)
As far as changing the card by the pressing the button. The button can be locked from the phone app according to them.
I guess that’s the future of credit/debit cards:
Non-invasive DNA reader would be cool
Cool thingy anyway,
but in fact I see too many problems people will see which are not there,
and too many problems which are there but people wont see.
And for me: An absolutely average German, this card would not replace, or even work with any of the cards I have.
So Germany is no market for this thingy.
Ever since the Target/Neiman Marcus/Michaels hacks, chip & pin is gaining ground FAST in the US.
Chase already said they’d begin issuing C&P cards in the US in 2014.
The official date when it all has to be rolled out is October 2015. Any merchants still using magnetic stripes at that point will be held liable for any fraud that occurs at their POS machines. This will provide a mighty strong incentive for them to upgrade. Expect magnetic stripes to pretty much disappear in the US by then.
Yep, same as here in Germany one or two years ago.
Banks nowadays deactivate payment by magnetic stripes for debit cards, and if you go to country where chip readers are not common, you have to activate them in advance.
in Aus, they have phased out signature use and it becomes impossible to sign for anything after next month. PIN will be the only way. For many years now (3 at least) we’ve had smart chip and NFC capable cards, although there are many retailers who are only just updating readers to be NFC capable (but smart chip readers have been around for the full 3 years)
I only ever carry two cards anyway, one credit (for the cash back) and one debit. Replacing the two cards with one card wouldn’t save me enough hassle to be worth it.
Now, if they could replace the RFID tags I have to carry around (parking garage, building access, etc), then they’d be on to something.
With any bio-metric way of identifying someone, prints, DNA etc., It needs to prove that the ID is coming from a living body
Well, if someone kills me, cuts off my hand, and pays with my credit card, I think that’s my least problem :think:
Ah, but on the other side, they may not have killed you to cut off you hand if it required a living body in the first place
The other problem with biometrics is that it’s tough to change your password
I really liked this idea but I didn’t see anywhere on the card where the merchant can verify your signature. There is no signature space on the back of the card. Also how do I get the 3 digit code at the back into the card.
As for the biometrics, don’t worry guys eventually you’ll be forced to have a chip on/in your hand because all money will be electronic and you can’t buy or sell otherwise
Even better than a signature field (which I often don’t sign anyway, and instead write “check id”) is the credit card which has my photo on the back.
@ Mr. John Smith - you supposed to take pictures of your cards, both sides. I guess there is a way to show it.
I am surprised that no payment system has yet been based on your fingerprints?
It’s unique and no 2 people have the same. No need for any surgery to implant a chip. We all carry them around with us.
Granted that it would require everyone to have a reader at home but considering we all carry a phone with us and Crapple (sorry for those diehard users but I hate them) and some others have already done this so it should be possible in the future?
If you’re wearing gloves in winter then having to take them off for id and payment would be inconvenient. I wanted fingerprint id as well.
Ah winter and gloves!! Not had either of those for over 9 years now. My woolly hat and gloves are probably rotten away by now at the bottom of some drawer.
I guess if you are in a shop and need to use your fingerprint, your hands are not exactly going to freeze for the short time you should have to take them off?