This Is Why Nobody Will Use Credit Cards In A Few Years

11-09-2012 • http://www.popsci.com, By Dan Nosowitz

Entertainment Weekly has twice now inserted an LCD screen into its paper magazine to show video ads. That's the growing pains that come when an entire medium is going through an upheaval--you get these little half-steps, a nod that, well, this thing we've used for a long time? It probably won't be around much longer. But that new things is maybe scary, or expensive, or not quite ready yet, so let's try combining the two.

A new credit card from Mastercard, as reported by the BBC, is going through those same growing pains. The card, first rolling out in Singapore before the rest of the world sees it, has a built-in greyscale LCD screen and a number pad. Mastercard will mostly use those features for security purposes, at first, though eventually they plan to roll out bonuses like loyalty rewards and coupons.

1 Comments in Response to This Is Why Nobody Will Use Credit Cards In A Few Years

Comment by PureTrust

Entered on: 11/9/2012 11:35:18 AM

Don't worry about the security. Why? The banks have so much free money available that they scammed us all out of, that anyone who loses to a hacker, can be reimbursed by the banks without making a dent in their huge reserves. In fact, it won't even make a ripple.

I can foresee hacker groups being hired anonymously, by card (or card replacement medium) holders, for a cut of whatever amount that they can hack. The hacker takes a cut, and the the card holder gets the rest. Then the bank reimburses the card holder for his loss, thereby creating an unreported, anonymous income for both hacker and holder.

I haven't looked, but do you think that this kind of hacker businesses are in operation right now? It's probably being done only by the FBI, CIA and NSA. But with hacker groups like Anonymous gradually becoming more and more influential, they could probably start such a business. And law enforcement wouldn't bother them. Costs to much for what it is worth.

So you see? The whole banking system is going down. Better get prepared. We probably still have a little time to prepare.

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