An embedded radio chip in credit cards could change the way we use our plastic friends when making purchases in retail establishments. The magnetic strips weve become accustomed to on the backs of our credit cards are sharing the small surface area with something called radio frequency identification, otherwise known as RFID, and may someday make swiping credit cards a thing of the past. The RFID system would let credit card users hold their card within an inch or two of the card reader to make a purchase- similar to the EZPass for the NY State Thruway, or the gas pumps that accept special key chains at the sensor to process your payment. You would no longer hand your card to the cashier, there would be no swiping to read the magnetic strip on the back of your card, and therefore, it would be considered contact-less payments.
Consider the television remote control. It magically changes the channels and adjusts the volume from across the room- all without contact with the television. That same technology can, and has already been used to power your credit card payments when shopping!
There are currently a few card lenders trying out these contact-less credit cards,...
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