December 30, 2007

Credit Card Goes USB way - Will it work ?

Its a geek fact that east asians are obsessed with USB and would put any thing to USB.

Finally something that normal people can use, a USB credit card. The USB credit card is setting the blogosphere on fire. If you didn;t know already this is created by a company called Shinhan Korea's bigggest card company and will enter your credit card details when inserted to the computer for you.

But what will make this an awesome innovation if this can be made the only financial card you ever need ! Here are some of my suggestions:-

  • You need to have all your financial data in one single USB card (Multiple Credit cards, Debit cards etc.) so that you need not carry many cards !
  • A secure PIN will make sure the USB card cannot be used by anyone else but you in case it is lost/stolen.
  • The card also contain the magnetic strip like the regular card so that it can also be used like a regular card if the need arise.
  • All online sites which require financial data make is mandatory to insert a devise to complete the transaction so that no one can process your financial data without the Card !
Any technology faces the big test of standardizing and somehow a new technology isn't adopted unless backed by huge companies. A mobile phone credit card was a great concept yet it is still in trial and used in very few countries.

Source [etnews]