ATS: RFID credit cards in the near future

Credit card companies such as Visa and Mastercard have been testing new 'contact-less' cards. These cards contain an RFID chip which means payment can be taken simply by passing the card in front of a reader as opposed to the current method which requires contact between either a chip or a magnetic strip. The cards themselves have no power source, they are powered by the EM waves emitted by the reader and instantly transmit the pre-programmed information when activated. Security in the new cards is provided by a 128 bit encrypted challenge-response exchange.



Well, where to begin?

Who doesn't have a credit or debit card? Virtually everyone has one in some form or another and this development means that anyone with the correct reader can instantly obtain a unique number identifying you. This has potentially far reaching uses in the field of surveillance and I don't believe that our governments would be able to resist the temptation to misuse this technology.

In terms of security it doesn't sound too good. I'm not sure how it works in other parts of the world, but here in Britain if you use a credit card for anything, you either need to enter a PIN number or sign a slip to authorise the transaction. This system doesn't seem to require any kind of authorisation which will be a boon to all card thieves.

This is being seen as a big step forward in the march towards a cashless society. The people I think would benefit most from a 'cashless society' would be the banks (what a surprise). They would no longer need to employ large numbers of people to handle or transport cash. The credit they have would not need to be backed by anything more tangible than numbers on a computer, entirely theoretical wealth. With the cost savings this would bring them, their profits would balloon even more obscenely than they already have.

Finally, we can't have a story about credit cards without some mention of the biblical prophecies (mark of the beast etc). Imagine a truly cashless society, your card would be the only thing you could purchase goods with and would be able to uniquely identify you by your number.

You're supposed to sign for anything over $10 on a credit card here, but that's a joke. There was a guy that purposely signed just about anything on his credit card, including Mickey Mouse, and "Please check Id", to even using hiroglyphics, and nobody said a word about it.

Something similar is happening here. At my local Tesco store they have self service checkouts. I used one the other day and was surprised to find that it just accepted my card without anyone wanting any kind of authorisation at all.

I don't know if this is just a CALIFornia thing but, I can't remember the last time I was asked for any iD or anything for using my credit cards. Nobody at all seems to care as long as it goes through.

Mobil, McDonald's, tollways and several others have had similar devices here in select areas for a long time. They go by many names, I-Pass, Fast-Pass, EZ-Pass, Speed-Pass etc. All the credit cards are doing is following their leads, simply because they are now widely accepted.

I understand that on tollways you can drive through a toll booth at 50 MPH, then you get a bill at the end of the month.

Yes, i've heard about them but this is the first time they've attempted it with credit/debit cards. The potential for misuse of this technology is huge and the ramifications of wide scale implementation will make someone (the banks) a hell of a lot of money.

You're supposed to sign for anything over $10 on a credit card here, but that's a joke. There was a guy that purposely signed just about anything on his credit card, including Mickey Mouse, and "Please check Id", to even using hiroglyphics, and nobody said a word about it.

Actually, the signature that you sign after paying a Credit transaction never reaches the credit card company unless there is a dispute. If you go to the grocery store and sign your name on the little slip it stays in that grocery store in a box stored away somewhere for I think 7 years (atleast at the store I used to work at).

In Hong Kong they have a system called "Octopus" which is similar to this. Basically, you "load" the thing up with money, like a debit card, and then anywhere you see an octopus reader you can just hold the card near the reader and it pays for you. All the mass transit, most convenience stores, many vending machines, etc...are equipped with readers. I found it super convenient and fast.

Originally posted by Chris McGee
Yes, i've heard about them but this is the first time they've attempted it with credit/debit cards. The potential for misuse of this technology is huge and the ramifications of wide scale implementation will make someone (the banks) a hell of a lot of money.

Perhaps on your side of the pond that may be true. Paypass in reality is Master Card under a new name, and has been in select test areas for a few years here.

All this means is they are now moving into world market, because the testing was successful.

Also they will not make the banks anymore money then they are getting now, since the fees are regulated here. As for misuse it can be no worse then credit cards are right now.

I think its cool, and pretty convienant by the sounds of it.

I wonder how long it will be used, before something better comes along, like say an implanted chip with all your info and can be used for transactions.

Originally posted by tjack
In Hong Kong they have a system called "Octopus" which is similar to this. Basically, you "load" the thing up with money, like a debit card, and then anywhere you see an octopus reader you can just hold the card near the reader and it pays for you.

I've heard about them and I think that's a really good idea. This is a bit different though. If your 'Octopus' card gets lost or stolen then you only lose the money you put on it, like if you drop some cash or lose your wallet. If your RFID card gets stolen then you could potentially lose everything in your account.

I know that is the case with normal cards but at least there is some measure of security in that someone is supposed to either check a signature or get you to put in a pin number. That's why these self-service checkouts worried me so much. Anyone who got their hands on my card could just go clean me out without any checks at all.

the gas cards are that way. i seen what he was talking about on the news and that will suck. its easy to copy them.