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Plastc Card

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Re: Plastc Card

#241

Post by [deleted] »

danielweber wrote: post #140
glitch wrote: post #72

Earlier quoted context omitted.

For the record, Chip and PIN is kind of broken... • "Chip and PIN is Broken" (Murdoch/Drimer/Anderson/Bond, 2010) [PDF] http://www.cl.cam.ac.uk/~sjm217/papers/oakland10chipbroken.p... • "Chip and PIN is Broken" (Murdoch, 27C3, 2010) [Video]: http://www.youtube.com/watch?v=Ks_w352BS-Q • "Chip & PIN is definitely broken" (Barisani/Bianco/Laurie/Franken, 2011) [Video]: http://www.youtube.com/watch?v=JABJlvrZWbY ...and s…

In the US, the big benefit of Chip and PIN will be that retailers don't have any credit card information to store.

[deleted]

Re: Plastc Card

#242

Post by TrevorJ »

bradfa wrote: post #85
yincrash wrote: post #62

The ridiculous number of features on this card makes it really hard to believe that an unknown startup has the resources to pull it off in the form factor as thin as a credit card. Coin still hasn't gotten there yet (they claim it works at 85% of the locations they visited). Adding more features including wireless charging coils and unknown method for duplicating chip and pin makes me really skeptical that this will…

The microcontroller, smart card interface, eInk screen, bluetooth capability (including antenna), NFC (including antenna), and touch screen all seem reasonable and there isn't anything earth shattering tech wise (but probably a customized asic using off the shelf bits). Connecting this all together on some fiberglass or plastic substrate is hard, and expensive to tool for (I'd expect), but definitely possible. The in…

I'm extremely skeptical that this will work as well: they say you can remotely lock the card which would require some kind of bluetooth polling to your phone at a pretty regular interval and I doubt battery life is going to allow for that.

Re: Plastc Card

#243

Post by rtpg »

jrockway wrote: post #234
rtpg wrote: post #218

Earlier quoted context omitted.

I'm pretty sure nfc can be passive, the e-ink display doesn't use energy when not changing, and the "touch screen digitizer" could just be a button that is actually a contact (i.e. most of the time the microcontroller is passive). Also, you could make the card thicker in areas where it doesn't matter (away from the stripe and the PIN

You can't, actually. Consider things like the ATMs that suck in the entire card, or things like Metrocard vending machines that require you to insert the credit card in a slot.

ah, good point on the ATMs, I stand corrected

(imagine this card getting stuck in an ATM, suddenly all your cards are lost)

Re: Plastc Card

#244

Post by iaw »

jrockway wrote: post #236
iaw wrote: post #160

Earlier quoted context omitted.

I'd supplant savings account with stock market. The stock market is a little frothy as of late and a pull-back has been in the works for a while.

The money in your savings account decreases in value with inflation, so that's not a risk-free strategy either. Maybe inflation-indexed treasuries are what you want, but those are also not risk-free!

Valid point. How could I forget inflation?

Re: Plastc Card

#245

Post by andrewguenther »

mjg59 wrote: post #145

From the fraud perspective: One of the costs associated with fraudulent card use is turning a set of number into a physical object. Several retailers will avoid the "Just write the number onto an existing card" approach by verifying that the last four digits on the card match the number on the magstripe, which increases the cost per cloned card by a reasonable margin. Using Plastc instead would break that assumption.…

If I were a merchant, I would not accept one of these. Fraud claims always side with the cardholder, what do you say as a merchant? "Yeah, some guy came in with this black piece of plastic and a screen on it and I just swiped it."

Re: Plastc Card

#246

Post by jldugger »

baddox wrote: post #233
staz wrote: post #213

Earlier quoted context omitted.

I don't get how you can end up with so many cards, it's seems like a very american problem. I have 5 cards in my wallet: * Debit card and a Visa credit card: both with chip&pin and allowing me to do secure transaction on the internet * A public transport card: RFC, also allow me to rent bikes * An ID card, also with a chip&pin, allow me to sign documents and fill my taxes * An insurance card which is not even a magne…

I'm an American, and I have no idea how someone ends up with that many cards. I carry two: my credit card and by debit (ATM) card. I could easily leave the latter behind, since I very rarely use, but it feels prudent to keep it with me in case I need cash in an emergency. Beyond that, I could understand having a single company credit card if it makes sense for your job (it doesn't for mine). For gift cards, I suppose…

I'm am American. Lets talk about cards for a bit, then?

I have a debit card, a credit card, a student ID that doubles as a payment card and rfid to get me into work. I also have a second rfid card for another building on campus that isn't part of the network, because apparently doors aren't on the internet yet, and a car insurance card that's basically a small slip of paper. That's my everyday wallet carry.

I also carry some keys: 3 for work, one for my car, and one for the apartment. I also have some loyalty cards on the keyring, for grocery shopping, and for the public library.

I also have several cards I leave at home: a debit card that's only for medical expenses paid out of my HSA, a visa gift card from the grandparents, a debit card from the local credit union (I signed up for because my online bank didn't accept checks at the time and I needed to deposit my first paycheck), a different credit card I don't use often because the cashback is crap outside a narrow set of rotating categories (but can't close because it's also my oldest credit account).

Re: Plastc Card

#247

Post by jldugger »

baddox wrote: post #233
staz wrote: post #213

Earlier quoted context omitted.

I don't get how you can end up with so many cards, it's seems like a very american problem. I have 5 cards in my wallet: * Debit card and a Visa credit card: both with chip&pin and allowing me to do secure transaction on the internet * A public transport card: RFC, also allow me to rent bikes * An ID card, also with a chip&pin, allow me to sign documents and fill my taxes * An insurance card which is not even a magne…

I'm an American, and I have no idea how someone ends up with that many cards. I carry two: my credit card and by debit (ATM) card. I could easily leave the latter behind, since I very rarely use, but it feels prudent to keep it with me in case I need cash in an emergency. Beyond that, I could understand having a single company credit card if it makes sense for your job (it doesn't for mine). For gift cards, I suppose…

I'm am American. Lets talk about cards for a bit, then?

I have a debit card, a credit card, a student ID that doubles as a payment card and rfid to get me into work. I also have a second rfid card for another building on campus that isn't part of the network, because apparently doors aren't on the internet yet, and a car insurance card that's basically a small slip of paper. That's my everyday wallet carry.

I also carry some keys: 3 for work, one for my car, and one for the apartment. I also have some loyalty cards on the keyring, for grocery shopping, and for the public library.

I also have several cards I leave at home: a debit card that's only for medical expenses paid out of my HSA, a visa gift card from the grandparents, a debit card from the local credit union (which I signed up for because my online bank didn't accept checks at the time and I needed to deposit my first paycheck), a different credit card I don't use often because the cashback is crap outside a narrow set of rotating categories (but can't close because it's also my oldest credit account).

Re: Plastc Card

#248

Post by duckman12 »

How is this bs even legal?... I'm going to render a spaceship and put it up for pre-orders.

Do not give these people your money, nor the other tech companies that pull this kinda shit when so many real innovations are in the market.

Re: Plastc Card

#249

Post by achille »

natrius wrote: post #16

They say this supports chip-and-PIN, but I don't believe them until they explain how. If I have a chip-and-PIN card from my bank, the chip has an unreadable secret used to generate one-time cryptograms to verify the authenticity of the card. There's no way to get that secret onto my Plastc card. You'd need partnerships with banks to get a new secret the way Apple Pay does. Without those, this sounds like it'll be use…

If you pay attention to the video, the card sends a notification to the phone with the transaction amount & merchant information.

Knowing the transaction amount is not possible from the "sender" portion of a magstripe. You're simply handing over a credit card number. The credit card amount is negotiated over the phone/internet between the bank & merchant.

This means that the Plastc card likely has one hardcoded number that switches payments serverside. Similar to the Wallaby card or Google Wallet card.

This works perfectly fine with chip & pin. The merchant charges the Plastc card which in turn forward the transaction to the correct bank.

Re: Plastc Card

#250

Post by paradite »

kvgr wrote: post #115

Lot of comments here is how Apple pay will rule. But not everybody can or want to buy iPhone. Or even expensive Android with NFC... That is why I think Coin and Plastc - if little cheaper may be succesfull. I usually have 2-3 debt cards, one credit card and I have few bonus cards for different stores - that I do not take with me, because I like small wallet. This solves my problem.

> But not everybody can or want to buy iPhone. Or even expensive Android with NFC...

An Android phone with NFC is not as expensive as you think, and it will be cheaper by summer 2105. And by summer 2105, payments by phones/smart watches/wrist bands would be ready as well.

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