Credit Card Embedded Authentication Device Looks Retro, Is Advanced
The Credit Card Embedded Authentication Device has a twelve-button keyboard, a microprocessor and a built-in alphanumeric display. Now we've got security in the palms of our hands.
(Credit Card Embedded Authentication Device)
For example, if you had this card, you could enter your PIN into your own card's interface - rather than into somebody else's device. Remember those clever hacks that put a card reader in front of the bank's card reader on ATM machines? The Credit Card Embedded Authentication Device would accept your PIN and then request a one-time-only passcode for the current transaction.
Bank fraud costs financial institutions an estimated four billion dollars annually - and you'd better believe they would rather be spending that money putting a bank on every corner.
Don't forget that one of the earliest expressions of the idea (as well as the phrase) of credit cards came in a 1888 story by pre-sf writer Edward Bellamy:
A credit corresponding to his share of the annual product of the nation is given to every citizen on the public books at the beginning of each year, and a credit card issued him with which he procures at the public storehouses, found in every community, whatever he desires whenever he desires it. This arrangement, you will see, totally obviates the necessity for business transactions of any sort between individuals and consumers. Perhaps you would like to see what our credit cards are like...
(Read more about the credit card from Looking Backward
Via Next-Generation credit card.
Scroll down for more stories in the same category. (Story submitted 10/29/2007)
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