Is a “Smart” Credit Card in Your Future?

Last week, at DEMO Fall2010, a company named Dynamics Inc. unveiled the first “smart” credit card – powered by an internal computer. And, in keeping with software labeling, this is being called Card 2.0.

Don’t get too excited, because it’s not yet available, but developers are predicting that it won’t be long.

This credit card, which is the same size as any other credit card in your wallet, holds 70 electronic components in just 1 tenth of a cubic inch. In order to protect these components, the card is covered in plastic, so it is scratch-proof and waterproof. It’s also flexible – indicating that it will take a lot to damage or destroy this little wallet-sized computer.

This card comes in two versions: MultiAccount and Hidden Account.

The multi account card can be populated with two or more accounts from the same credit card issuer. So if you have a business and a personal account, you can choose which you will use for a given purchase.

Each time you use the card, you push a button to select the account you wish to use, and the computer inside will populate the magnetic strip on the back.

The Hidden Account card, which is being touted as an anti-theft card, requires an access code for use. This card has 5 buttons with which to enter your PIN. The face of the card shows all but one section of your credit card account number all the time – but when you’ve correctly entered your PIN, the remaining numbers show on the screen. This facilitates use of the card for on-line and telephone purchases.

At the same time, the smart card populates the magnetic strip for swiping.

When you’ve finished using the card, it automatically turns off – so your account number is no longer visible and the magnetic strip no longer works. Obviously, this card could frustrate a thief, since he or she wouldn’t know the PIN to turn the card on.

Author: Marte

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