The Future Of... Credit Cards

The Future Of... Credit Cards

Summary: They're a modern-day must. Anyone who's ever forgotten their credit card at home or worse, lost it, knows exactly how crucial that piece of plastic truly is. With rampant fraud and ID theft though, most cardholders are equally aware of the risks. But what if the account number on your card disappeared when not in use? ZDNet correspondent Sumi Das explores payment innovations from Dynamics, Square and Bling Nation.

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Topics: Enterprise Software, Banking, Security

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11 comments
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  • Anything to get rid of them, since the magnetic strip is unencrypted

    Have been for decades and despite years' worth of ID theft and other issues, they still remain unencrypted. Banks too lazy to put in a very mundane procedure? Or will the profit margin be hampered too much?
    HypnoToad72
  • RE: The Future Of... Credit Cards

    Yuck! Give me good old greenbacks. This is really a great idea in an ideal society!
    geofer50
  • RE: The Future Of... Credit Cards

    Why haven't credit card companies implemented the requirement for a pin number like one has to have for a debit card. Unless someone is stupid enough to write their pin number on the card, no one is going to use your card. Hackers will figure a way to hack a fancy credit card with a computer inside, but they sure can't hack your brain.
    nevertells@...
    • RE: The Future Of... Credit Cards

      @nevertells@...
      The pin is a good addition to stop the average street crook but the pin is also storeds in the swipe and can be bypassed by an average hacker. The card they showed with the built in computer actually will make it easier for todays crooks as its basically a computer with code on it which means it will be hacked quickly and daily even if they figure a round robbin stytle to switch up.. The idea isnt great but we will see. The sticker on the phone linked to paypal is a real bad idea and the idea i think its called NFT or NFT where your account info is on your phone is the worse idea yet which is why am am guessing apple backs it since they do the dumbest stuff out there. I did get something useful from the article though. The phone swipe square app is just what i wanted so just got that up and running so thanks for that info writer.
      Fletchguy
      • RE: The Future Of... Credit Cards

        @Fletchguy
        The PIN is not stored in the swipe, that is complete bollocks.

        The PIN on entry to the PED (Pin Entry device) is hashed against encrypted contents of the chip and gives a yes/no to correct entry. The PIN is not held anywhere, other than at issuer bank.
        neil.postlethwaite
  • Just Another Credit Card Scam to push towards ever tighter controls

    1) No matter how they desig thyis thing if it involves digital anything someone WILL hack it and copy it and use it for unlawful/illegal means. There is NO such thing as un-hackable. The only people who refuse to believe this are those peddling the products. I'm not saying this new tech is not more secure then existing credit cards only that its NOT as secure as the saleman would have you believe.

    When was the last time any sale person whom you did not know pesonally, told you the truth and nothing but the truth? Sales is latin for "commerce via the art of deception".

    Case in point: At Pwn2Own (just recently) a frnch team "took down Safari 5 running on a MacBook Air notebook in five seconds". Remeber when APples had the unhackable sofwtare?

    NOTHING IS HACKPRROF
    BlueCollarCritic
    • WELL SAID :D

      @BlueCollarCritic That's exactly what I was going to post until I came across your post ;)
      MrElectrifyer
  • RE: The Future Of... Credit Cards

    My personal opinion is that when Near Field Communication (NFC) chips ship as part of every smartphone, we will see a move from plastic to on-board credit cards. The advantage of NFC is that it allow over the air provisioning, additional information during the transaction, and the use of NFC for other things like tickets, coupons, licenses.
    john.mc.baker
  • RE: The Future Of... Credit Cards

    How about a card that has no numbers on it at all?

    Simple and effective:

    https://www.revolutioncard.com/
    jeffpk
  • What's the plug in device?

    No mention of company, designer, or any other info that would allow me to look it up.
    Marc Erickson
  • RE: The Future Of... Credit Cards

    Why haven't credit card companies implemented the requirement for an ID card at all time ?
    patrieu