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Using Smartphones As Credit Cards - Chuangxinjia RFID Manufacturer

Chuangxinjia www.nfctagfactory.com 2013-12-20 13:44:20

The two biggest mobile carriers in the US, AT&T and Verizon, arejoining hands to bring an RFID-based system that will allow smartphones to beused as credit and debit cards. The phones would be embedded with an RFID chipthat will contain information about the user, much like the magnetic strip on acredit card. Simply holding the phone against an RFID reader will process thetransaction.


chuangxinjia rfid visa card supplier


So what does this mean forus? Fast Company explains:

When the RFID system getsintegrated with a smartphone’s circuits, a whole world of possibilities opensup, including using the smartphone’s screen as a super-secure numeric pad foraccessing your PIN or even using the smartphone’s sensors as a more secureuser-ID detection system. Using location data sent over the phone’s datanetwork would also ensure greater security, as you’d know that the phone isbeing used where it says it is, and no-one’s cloned the RFID data to steal yourmoney.

It works for consumerstoo–they’d only need to carry one device to act as phone, media player, PDA andcredit card, versus having to use a modified Visa RFID card too. The phone networksalready have user’s personal data, and your payment details, and the wirelessnetwork to enable all sorts of higher-level exploits of the system.


Fast Company: “Specter ofApple Looms Over Verizon, AT&T’s Cell Phone Credit Cards Game”