Friday, January 28, 2011
Innovative revolutions in Credit card technologies
Technology updates on Credit cards
The credits cards are normally built with a magnetic strip which upon swiping at ATM or shopping centre will enable transactions. In the conventional cards, there is no facility of display card balance and keypads so on. There are many complaints from card holders of losing their money without their knowledge. This is mainly by the criminals who steal the data of the card using magnetic strip reader or noting down the card details, even cloning of the cards. To overcome these problems and completely preventing the theft or fraud, innovative revolution in the credit card technologies have emerged, some of the key technologies are addressed here.
Credit card with miniature display and keypads
The innovative technology has opened new windows for credit cards with display and keypad features. In these novel cards, the card is embedded with display and keypads so that the users can interact with them. This Credit card embedded authentication device can even provide additional security to prevent bank frauds for the users. These cards feature to display the current balance of the clients. Some card uses a one time pass code to authorize the online and phone transactions. These cards normally have built in batteries which will last for about 4 to 5 years. These programmable credit or master cards has yet to popularize the world for the cashless transactions.
Multi account and dynamic credit cards:
In this, we can store details of many cards and use any one card by choosing the magnetic strip of a particular card. This card also built in with a eInk display which consumes less power and no power if not displaying anything.
The dynamic cards are automatic reprogrammable magnetic strip where we can toggle between strips by using buttons and hide & show the desired credit card numbers with display facilities.
Credit card swipe phone or i-phone:
These phones are built with credit card reader facility where the entire transactions are done with phone. This is mainly useful for those doing micro finance and small business. The reader can be easily plugged into the audio jack. While swiping with this reader, the authentication is done with the mobile phone display.
The Braille Credit Card :
The Braille card specially designed to handle a visually challenged person to know the amount of money that has been charged on their card. The card with its Braille display features the Braille to know the sum that is needed to pay. The card also has an inbuilt miniature speaker which reads aloud the figures for further assistance. This special card can also be used by old aged people who suffer from poor eyesight with the features of built in speakers.