A pair of new computerized credit cards can re-program their own magnetic stripes and hide their account numbers, providing added security for bank customers who don't want to carry lots of plastic inside RFID-proof metal wallets.
The "MultiAccount" card, which debuted at this week's DEMO conference, looks just like a normal card, but with buttons on its face in the place of that holographic eagle seen on VISAs. Users can push a button to switch between cards, and an indicator light will let you know which account you're using — such as a business account or personal account.
The "Hidden" card has five buttons and a tiny display that obscures part of the credit card number. Users have to enter a PIN to uncover the whole number and unlock the magnetic stripe, according to Technology Review. After a period of time, the numbers disappear again and the magnetic stripe is deactivated, so it would be worthless to a thief who lacks the right PIN.
The cards have a lithium-polymer battery and are fully waterproof, a nice feature for those who leave their cards inside jean pockets, sending them through the washing machine.
Card-maker Dynamics Inc. dubbed the technology "Card 2.0," noting that magnetic stripe credit cards date from the 1970s. But as Gizmag points out, it's far from the first future-y credit card to offer new consumer protections — few of which have really caught on.
Still, we particularly like the idea of one card for multiple accounts, reducing the fat-wallet Costanza effect.
The guy's initials on the card is FML -- which is what he'll feel if he accidentally charges a big purchase to that high interest account instead of the account with the promotional 0% APR.
promotional 0% interest rate?
I got an offer from Chase just this week. The 0% applies only until March 2011. And there is 4% upfront fee. So 10,000 on the card will cost me $400 for 6 months. Hardly 0%
Just when you thought American's couldn't get any more in debt...lmao
I can see this as an added ID card for companies or the military to let you have access to different areas..Like the executive bathroom.
I hope they make one that's called Multipass.
Oh $#@%, I forgot to charge my credit card before I left for work today!
Multipass! It would be nice to carry fewer items in one's wallet (and the added security seems handy too.)
One ring to rule them all--one card for thieves to steal them blind.
Should be a federal law requiring positive ID of the user. Vendors could not accept the card if it does not belong to the user. Looks like this one does nothing to prevent fraud.
The pin function is identical to many debit cards in use today so I dont really see any 'new' security issues; until its stolen, hacked and then they have acsess to multiple accounts. Then again who loses one credit card? Isn't it usually the whole wallet that goes missing with all your plastic in it ? Not sure if this is the answer but its cool thinking.
Forgot, on the whole multi-pass thing, as I recall many Corbin Dallas wannabees had one.
this will be obsolete in a few years anyways is apple making something that makes your Idevice into a credit card, which is connected to your iTunes account? i though i herd that rumor before...
That's really cool Buddy, Thanks for Sharing..