Coin
Posted: Sat Nov 16, 2013 2:11 am
I want this.
Majorharper wrote:How in gods name will you get money out from an ATM machine? Didn't see him do that in the video! It won't work, I doubt it. Unless they can figure out a reprogrammable chip for each one on your debit / credit card...
I know a few people who have various debit/credit cards. I think my dad has 2 or 3 credit cards and 2 or 3 debit cards. One or two for banks in Dubai, and another one for the bank in Canada. Goes for debit and credit.
Edit: Personally I have one Debit and one Credit card.
strangelove wrote:Majorharper wrote:How in gods name will you get money out from an ATM machine? Didn't see him do that in the video! It won't work, I doubt it. Unless they can figure out a reprogrammable chip for each one on your debit / credit card...
I know a few people who have various debit/credit cards. I think my dad has 2 or 3 credit cards and 2 or 3 debit cards. One or two for banks in Dubai, and another one for the bank in Canada. Goes for debit and credit.
Edit: Personally I have one Debit and one Credit card.
It can be used in an ATM. As the video shows, you simply select the card you want to activate use it like you would any regular plastic card. This is done through something called a 'magnetic strip emulator' which does just that. I think this speaks more of how poorly secure credit cards are than how advanced this is.
This is also the reason why this card is really not worth it. Credit card companies will begin requiring establishments to do EMV verification (chip inside card) in the near future in the US (EU already requires this), meaning that this card will no longer function in places that require this.
Majorharper wrote:strangelove wrote:Majorharper wrote:How in gods name will you get money out from an ATM machine? Didn't see him do that in the video! It won't work, I doubt it. Unless they can figure out a reprogrammable chip for each one on your debit / credit card...
I know a few people who have various debit/credit cards. I think my dad has 2 or 3 credit cards and 2 or 3 debit cards. One or two for banks in Dubai, and another one for the bank in Canada. Goes for debit and credit.
Edit: Personally I have one Debit and one Credit card.
It can be used in an ATM. As the video shows, you simply select the card you want to activate use it like you would any regular plastic card. This is done through something called a 'magnetic strip emulator' which does just that. I think this speaks more of how poorly secure credit cards are than how advanced this is.
This is also the reason why this card is really not worth it. Credit card companies will begin requiring establishments to do EMV verification (chip inside card) in the near future in the US (EU already requires this), meaning that this card will no longer function in places that require this.
Doesn't the ATM machine require a chip though?
Sanktum wrote:Majorharper wrote:strangelove wrote:It can be used in an ATM. As the video shows, you simply select the card you want to activate use it like you would any regular plastic card. This is done through something called a 'magnetic strip emulator' which does just that. I think this speaks more of how poorly secure credit cards are than how advanced this is.
This is also the reason why this card is really not worth it. Credit card companies will begin requiring establishments to do EMV verification (chip inside card) in the near future in the US (EU already requires this), meaning that this card will no longer function in places that require this.
Doesn't the ATM machine require a chip though?
We use only the chip in Estonia. The last time I saw paying using a magnet strip was years ago.
poehalcho wrote:Magnet strip was deemed unsafe wasn't it?
Anyway, wouldn't it be better if this tech was limited only to those fodder cards you get from stores rather than your real payment cards?
-.- wrote:this also relies on having a smartphone to select the card too...
why not use the smartphone to pay via nfc or app?
Tasdik wrote:Good question.
But I'm thinking this would be incredibly useful. I mean, how many times have you been at a store, and they're all like "Would you like to sign up for a card and save xx amount today?!?"
I never do, cause that'd be too many cards. But if I had this? I just might.