Are smart cards the future?
 

After reading the latest news about Mastercard planning to stop working with 3rd party processors. I began to wonder when the credit card companies plan to push their smart cards more than they already have. I don't think its possible to make a chargeback when using a smartcard, because its a cash transaction, not a credit transaction. Also, much of the population doesn't have a credit card because they don't qualify for one, so they can never sign-up for pay sites, but everyone would qualify for a smart card. So, I can see some real benefits for adult sites if smart cards were more common.

Mastercard has Mondex

Visa has the Smart Visa Card

What do you guys think?

Pretty interesting.. too bad the Visa one is US only (Mondex probably is too, just didn't read it).. Once these cards are available in more countries and they start to become more popular, maybe they will replace the traditional CC..

It'd certainly mean less chargebacks and fraud for us.

The best thing about Visa and Mastercard being behind this is that the cards will work over their existing networks. So, I think anywhere that is capable of accepting Visa or Mastercard now, should be able to accept their smart cards.

Thats all great and wonderful, but I know I don't have a smart card myself....and I don't even know where to get one or to be able to load money onto the card. It seems like Visa and Mastercard are really dragging their heels on this because the technology has been around for years and they've been doing trials in different markets for over 5 years now.

If I could figure out how to get one and use it, I know I would do it.