Getting rid of the magnetic strip card
So how many credit cards do you have in your wallet? Not to mention your insurance card, that drivers license with the new magnetic strip, frequent flyer card, and so on. On average, each person probably has 10-15 cards with that magnetic strip on the back.
Why can't we associate certain cards to just only one smart card? Or how about link your digital drivers license with your gas credit card so all you have to do is insert your drivers license into that gas pump console, and it will get deducted from the credit card that is associated with it.
But is it also possible to get rid of that magnetic strip and move on to a new next-generation transaction device? Smart cards (or touch cards) are being used as a test case in NYC so all you have to do is "touch" the sensor and your fare is deducted from your card. It is being used as the ideal way to travel on the London Underground. This can well be used for credit transactions since we are getting tired of the swipe feature and what if your card gets bended so the magnetic strip loses its cohesion and it becomes useless, and so on. I kinda despise the paper magnetic card that I use on the PATH and on the NYC trains. Over time, it becomes frayed from staying in your pant pocket, and if you accidently bend it, it's gone.
It is not that hard. At my apartment complex in Hoboken, they replaced the card access with a sensor, so with your "key," you can just touch the sensor, and you are let in. Same thing goes for entering the residence halls, just wave your "key" at the sensor. This can be applied to our transaction cards. The one safe bet is that people with card readers would be unable to read your magnetic strip because you do not have one. Yes, thieves and other unsavory characters will make up new things to steal your private information, but at least, initially, they will be stopped by the new transaction smart cards.
So forget about "swiping" and embrace "touch." =)