111–120 of 182 posts
Conversely, if I were MasterCard or visa I would bar merchants from taking this card for my transactions to maintain competitive advantage.
Why do people have so many credit cards? I use one (1) debit card to pay for things, or cash.
1) Establish and grow credit rating 2) An extra layer of defense against bad merchants (the CC companies will be your goon squad) 3) Bonus miles/points/etc
[A]ctivate the device with a fingerprint on its biometric strip, scroll through a list of cards on its screen and choose one. Out pops a plastic card with a magnetic stripe, temporarily loaded with the chosen card's data. Just swipe the card and pop it back into the iCache. After one use, the information on the card disappears.
http://money.cnn.com/2007/08/23/technology/one_credit_card.b...
Although I'm not sure if the information disappears after the swipe or after it's loaded back into its case.
.... and when the waiter accidentally presses that button and changes the card which your business lunch is being charged to?
Maybe the button only works when the card is near the phone?
Perhaps do the card selection from the app? Or at least an option to require confirmation in the app?
In Canada I haven't' seen a place that doesn't use chip and pin for about 3 years now.
Can someone shed some light on how they get around this?
This seems a great way to steal other people's credit cards. You can literally duplicate someone's card on your "coin". Now there's a super easy way for someone working in a restaurant to get your credit card information and sell it.
Two notes: 1) This can already be done using a simple stripe reader. 2) Coin can identify, investigate and proactively block anyone who has more than the average number of cards, so Coin actually seems well positioned to reduce fraud. Also, Coin could identify that multiple Coin cards have the same credit/whatever cards on them and, the next day , prompt you to swipe your card again to confirm. [Provided that Coin up…
The real issue I see is that I don't want to carry a phone AND a card. I just want to pay with my iPhone 5S + thumbprint.
Or, if I'm in NYC and want to go running through the streets slash central park, I want to pay with my iPod Nano for the train, for some water, and even some food.
Heck, take it a step further. Just imbed a bluetooth chip inside my thumb so I just have to press it to a payment terminal anywhere.
It's just a roadmap, but you have to start somewhere.
How does this work with the typical credit card setup, ie chip and pin? Do they duplicate the pin of each credit card? In Canada I haven't' seen a place that doesn't use chip and pin for about 3 years now. Can someone shed some light on how they get around this?