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Originally Posted by **********
Looks interesting, but -
Here in Canada, swiping is all but gone, and replaced with chip cards. Maybe coin though, will have some kind of chip too?
Don't android phones have some kind of chip / payment thingie that lets you do almost the same thing? I know its not really possible yet but I can see all of my payment options being on my mobile phone in 2-3 years, making credit cards and debit cards obsolete.
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I listened to a NPR spread about a week ago and CC companies are working on getting the new chip-and-PIN technology implemented all across... replacing the current visa, MC, Amex swipe cards.
Should be here in about 2 years (it's gonna take some time to replace millions of merchant CC devices) would have been here by now if it wasn't for the badass consumer protection we have...
But back to the OP, it's a fantastic idea, but what are they going to do in 2/3 years when every card had the chip-and-PIN technology ?