Uses of Smart Card
Personal ATM- many separate "electronic pockets"
Point of sale purchases (stores, restaurants, vending machines,gas, toll roads)
Telephone calls
Access to cable and satellite programs
Internet purchases
Vehicle and building access
Personal computer access (replace all passwords)
File encryption
Identification (Soc. Security, Driver's License, Student ID, Health ID, Voting, etc)
Biometric verification (Picture, fingerprints, facial recognition, etc.)
Medical information
Insurance information (auto, medical…)
Loyalty programs (airlines, grocery stores, etc.)
Rapid Check-in (Hotels, airlines…)
Mass Transit
Advantages:
Security
Flexibility
Convenience
Can also incorporate older credit and debit card functions
Key Scriptures
Click on one of these
references to see
the passage.
Thanks to the services of:
Understand the connection between "Electronic Commerce" and the "Mark of The Beast."
Notice: Sources often remove their news links after a period of time. Some of them move older stories to a subscription-only section. Even if the story is no longer on line, our summary will still be available on this page.
April 15, 2011 - After a strong debut in the 1990's "Smart Cards" with embedded microchips were ignored in
the U.S. but became normal in Europe. U.S. consumers still use the "magnetic stripe" cards, but find themselves at
a disadvantage in Europe where their cards may not be accepted. Now two companies -- Wells Fargo and JP Morgan Chase
& Co. -- have announced plans to offer these EMV cards (See Wikipedia definition below) to their frequent travellers.
The writer of the article comments that this may only be a temporary measure for American companies because of the
new advances in "Near Field Communication" (NFC) devices such as cards, smart phones, and other devices with
embedded transponders that allow contactless transactions.
Source: Fast Company
EMV - Wikipedia -"EMV stands for Europay, MasterCard and VISA, a global standard for
inter-operation of integrated circuit cards (IC cards or "chip cards") and IC card capable point of
sale (POS) terminals and automated teller machines (ATMs), for authenticating credit and debit card
transactions."
June 9, 2003 - According to a new study by Celent, an IT research and consulting firm, contactless payment methods will become very popular. Key fobs with imbeded radio frequency identification devices and certain kinds of smart cards are examples of contactless devices.
Within five years, RFID payment systems will be as common as credit card payments in fast food restaurants, video stores, movie theaters and other outlets that do a lot of low-value transactions.
Feb, 2002 - Pop star Britney Spears offers five versions of SmartFlash Collectible Cards, a special smart card that can be inserted into readers attached to their personal computers. With the card, the user is given access to behind-the-scenes videos and photos on the star's website.
Source: Card Technology.com
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Feb, 2002 - Cybermark offers a battery operated mobile device that allows cardholders to purchase goods and services from street vendors, stadium concessionaires, delivery drivers, and a wide variety of other mobile sales situations.
Oct. 30, 2001 - Smart cards are being given to military personel and others who need high security. The cards are actually tiny computers that can be carried in their wallets.
The Pentagon began arming four million troops and civilians on Monday with "smart" ID cards that will allow them to open secure doors, get cash, buy food – and soon check out weapons and other military hardware.
Jan. 24, 2001 - With a goal of all governmental services online by the year 2005, Britain has released a plan which will give smart cards to individuals, on a voluntary basis, which will provide secure transactions from street-corner kiosks. The card will be authenticated by a biometric device, such as a thumbprint reader. It will allow citizens to claim benefits, pay tax or obtain access to their medical record. It could also be used for transactions in the private sector.
Critics of the plan fear that the plan is a back door method of establishing a national ID system.
Source: Electronic Telegraph - Rachel Sylvester
Related links from this article:
10 January 2000: [City] Europay chip secures internet card deals
18 September 2000: [City] ID Data puts its smart money on Aim
20 July 2000: [City] PowerGen site revealed customer bank details
17 April 2000: NHS 'smart card' may hold patient's records
8 March 2000: Blair wants everyone on the internet in five years
9 January 2000: [City] E-fraud heads for 15 per cent
4 December 1999: [City] The tangled web of fraud on the internet
1 December 1999: [City] Cybercrooks and superhighwaymen
Nov., 2000 - Accepted by 19 million merchant locations around the world, and on the Internet. Gives enhanced security when accessing online bank statements and allows you to receive custom-tailored discounts and specials when shopping on the Internet.
Nov. 2000 - This article from MasterCard extols the benefits of the Smart Card from the viewpoint of the bank. It will help eliminate fraud and bad debt and assist banks by expanding their profitability. Plans to migrate their 600 million credit and debit cards to smart cards.
Nov., 2000 - The first card in the US with smart card technology to allow shopping on the Internet with an additional level of security. It automatically fills out order forms on the Internet with your information. It comes with a unique certificate of authenticity. It is ready for future enhancements also. A free card reader is given to users who order it before the end of the year. The card reader allows your computer to process the information.
Feb. 9, 2000 - A new smart card with built-in fingerprint verification or iris recognition has been developed by Keyware Technologies and Proton World International.
Proton World was created by American
Express, ERG, Interpay and Visa
International to develop products for the
smart card and electronic purse open
standards.
NetCity.com Launches First Smart Card Community On the Internet
Oct. 18, 1999 -
NetCity.com Inc. of Aliso Viejo, CA, announces Phase I of the internet's first Smart Card enabled internet community. When one joins the service, he receives a free smart card and reader, plus $100 in "smart money" to be used online. Users also gain access to Net City Secure Smart Cart Network for E-mail, Web Sites, Online Shopping and Banking, and other advantages. (Story no longer on line)
Now a low-cost (approx. $39) unit comes ready to use on personal computers to enable secure e-commerce over the Internet. The device looks like a telephone next to the computer, but is not vulnerable to viruses or Trojan Horse programs.
Smart Card usage is steadily growing world-wide, though we in North America actually see a small percentage of the activity (about 6%). Europe accounts for over 68% of the usage, but Asia is already at 17% and South America at 7%. Source: A Look at the Asian Pacific Smart Cards Market: 1999 and Onwards.
Windows Powered Smart Cards and readers are significant players in the emerging market. PocketServer was recently introduced at a Microsoft conference. It provides a portable,convenient and secure vehicle for storing and utilizing personal information.
Schlumberger Celebrates 20 Years of Smart Card Innovation
June 23, 1999 - The company which introduced the smart card celebrates the 20th anniversary of that event.
"The first smart card dramatically reduced levels of bank card fraud," says Olivier Piou,
Schlumberger Vice President Smart Card Products. "Today's smart card can secure complex
e-commerce transactions. Tomorrow's card will empower the individual and unlock the full benefits
of the digital age
New Report Shows How Smart Cards Can Be Used To Improve Privacy, Reduce Fraud, Increase Profits And Cut Costs
June, 1999 - According to a new research report by SJB Research, the smart card market is growing at close to 50% a year, and as many as four billion smart cards will be issued in the year 2000, compared with the eight hundred million issued in 1996. (Story no longer on line)
May 10, 1999 - Schlumberger, the world's leading provider of smart card-based solutions, has joined forces with Compaq Computer to create the forthcoming Compaq Handheld PC Professional (H/PC Pro). This will be the first computing device to offer built-in smart card technology.
Use of smart cards will allow authorized people to access protected information from their company computers, and will make it easier to buy and sell on the Internet. (Story no longer on line)
May 3, 1999 - News release from American Express about the licensing of its smart card multiple application framework to more than a dozen industry leaders.
This represents a
significant step toward promoting interoperability among a wide
range of smart card applications, especially in the travel and
entertainment industry.
The multiple application framework is being licensed to: Cards Etc,
Continental Airlines, De La Rue, Discover Card, Europay
International, HTEC Ltd., IBM Corporation, MasterCard
International, Microsoft Corp., Orga Card Systems, Proton World,
Sun Microsystems and Tesa Entry Systems (a Williams company).
In addition, Visa International has expressed its intent to license the
multiple application framework.
March 22, 1999 - A new type of smart card has been announced by GS Telecom, Ltd. It is the ATTM Universal Card which will make it possible to conduct instantaneous, anonymous transactions over the internet. Only 3% of the worlds' population possess a major credit card, but with this card credit is not an issue. It is loaded with electornic cash and can be used by anyone from home or business (a card reader accessory is required). The ATTM card will handle transactions in 53 currencies, throughout the world, including the Pacific Rim and the Former Soviet Union. Source: Credit Card Central
Mar. 11, 1999 - Subway riders in Berlin will be able to use a contactless smart card for convenience later this year. The smartcard will be Motorola's Venus card, utilizing the latest higher-capacity (32 Kbytes) memory chips that can handle multiple applications on the same card.
Source: Wired News
Feb. 9 ,1999 - "Gartner Group released the results of a study that forecast the worldwide smart card
market growing at an annual rate of 44.1 percent to US $4.8 billion by 2002. As a result, the institute
was formed to answer business needs in a global marketplace that will grow exponentially. "
Article about Java "buttons, with functionality of programmable smart cards, which may be placed in rings, watches, keyrings, etc.
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Malcolm Williamson, President and Chief Executive Officer of Visa International, spoke on the topic: "Breakthroughs in Business Innovation" at the World Economic Forum in Davos, Switzerland. He said he forsees a future in which:
...Visa accounts may reside not on a
piece of plastic, but rather on a handheld digital assistant or even on a microchip
embedded in a ring or a wristwatch.
Nov. 2, 1998 - The German Central Credit Control Committee of Banks has approved Siemens smart card controller chip as the first to fully comply with tough new security requirements of the German banking project. The Siemens' controller will drive the next generation "Geldkarte" (money card) to be issued in the year 2000.
The ZKA project "Geldkarte" is the most advanced and, with more than 20 million users, the
world's largest smart card program. The German "Geldkarte" was issued throughout Germany in
1996. Approximately 45 million cards have been issued to date of which Siemens supplied 70
percent
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President Signs International Agreement With Smart Card Digital Signature
Sept. 4, 1998 - Electronic Commerce has advanced to the point that even the most secure of documents may be "signed" by parties using Smart Cards instead of pen and ink. Complex mathmatical calculations are involved to insure that the "signature" is authentic. U.S. President Bill Clinton and Irish Prime Minister Bertie Ahern made digital history today, sitting at separate lap-top computers equipped with smart card readers. The event was televised live by CNN.
July 27, 1998 -Diebold Incorporated, a leading global provider of automated ATM machines has received approval for the Mondex Electronic Cash Purse implementations for two models of their machines.
This will allow users to load cash values into their smart cards from the bank, or even to transfer accumulated cash from the card into the bank. Cards can then be used for point of sale purchases or for transfers from one person to another.
Mondex is a subsidiary of MasterCard International. It allows up to five dirrerent currencies to be carried on the card at the same time, and is the only electronic cash system in the world to operate with a single global technology allowing for cross-border payments.
July 27, 1998 - The head of the federal government's General Services Administration is planning to establish the Office of Smart Card Initiatives, for "spearheading the implementation of smart card technology" in the government.
Ben Miller, chairman of CardTech/SecurTech, Rockville, Md. comments on this development: " The government is beginning to pull ahead of industry in its use of smart cards."
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Will The Internet Replace The Mall?
Time Magazine's current (July 20, 1998) cover article is entitled "Kiss Your Mall Goodbye." It is about the explosion of "e-commerce" activity on the Internet. Last week, shares of Yahoo!, the Internet search engine, passed the $200 mark, making billionaires of 29-year-old Jerry Yang and 32-year-old David Filo. Yahoo! is one of many powerful computer databases which help people find information, products, and services on the Internet. There are already tens of thousands of commercial sites, which, according to the article, are "remaking the face of global commerce." Electronic shopping is said to be faster, cheaper and better. At the moment it accounts for $6.1 billion in sales. That is less than 1% of the U.S.'s $8.5 trillion economy, but by 2000 Internet sales will reach $175 billion!
Internet sales rely heavily on credit card usage, but many people are reluctant to type their card numbers into the sales forms for fear that they will be misused. The advancing technology of smart cards will solve this problem by transferring stored money values from the user's card to the vendor's account. See Mondex On-Line.
June 16, 1998 - This Schlumberger news release explains a new application with Holland's leading grocery chain which uses smart cards to increase loyalty and sales. Shoppers are able to check the status of their cards in the store. Then, based on each user's shopping behavior pattern, stored in the store's database, sales specials are printed out on a slip of paper and stored like electronic shopping coupons in the card itself. When the shopper checks out, the electronic coupons are applies automatically. Shoppers seem to love the idea, and it has resulted in a 5% sales increase for the grocery chain!
June 2, 1998 Singapore - - Standard Chartered Bank is offereing a Visa smart card (made by Gemplus) which combines two industry standards - the Visa Open Platform and the Java Card specification. The card is a minature computer using the Java language, which will enable banks and other institutions to modify the card quickly and economically to add its own functionality to the existing card.
According to Mr Jensen, Visa expects that by 2002, one-third of all Visa cards - equating to
approximately 500 million cards - will be smart cards. "I am also pleased to announce today the formation
of the Visa Open Platform User Group, an influential body of the world's leading financial institutions and
technology companies. Chartered members such as Standard Chartered Bank in Asia, Citibank in Latin
America and Sumitomo Credit in Japan, have committed to drive the development of the smart card
industry."
April 28, 1998 - Gemplus, the world's largest manufacturer of Smart Cards has revealed a new card which allows interaction with standard database concepts.
Simultaneously, Gemplus announced the shipment of 200,000 PocketBase cards to the Health Insurance Institute of Slovenia (HIIS). HIIS delivers compulsory health insurance to the entire population of Slovenia. The company expects to distribute two million PocketBase cards by mid-1999. The implementation of the PocketBase smart card solution will help HIIS increase their quality of service and simplify administrative procedures; improve communication between users and providers; and improve data security and protection.
April, 1998 - Use of smart cards will enable users to purchase goods and information on the Internet with ultimate ease. Use of this "electronic cash" will be the key to smaller purchases which will not be practical through conventional credit card or debit card processing.
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In China: World's Largest Smart Card Program
April 9, 1998 - DelSecur & China Giant GMCC Sign Understanding to Adopt Del-ID Technology for Personal Identity Authentication in the People's Republic of China - The Two Companies' Initiative Could Make China the World's Largest Manufacturer and User of Smart Cards.
DelSecur is the maker of an inexpensive and "foolproof" biometric identification device which combines finger print information with an encryption code. They have signed a Memorandum of Understanding with GMCC, Tianjin Global Magnetic Card Co. Ltd., for a personal identification smart card which could be instituted in the very near future. GMCC is China's foremost supplier of information card technology. (Source: Montreal - Business Wire)
4 Megabit Smart Card
SAN JOSE, Calif.--(BUSINESS WIRE)--March 24, 1998--American Microdevice Manufacturing, Inc. (AMMI) today announced the world's first 4 megabit smart card. AMMI's MEGACARD can store up to 4 megabits of information in non-volatile memory and resembles a standard smart card, but its greater capacity dramatically expands the range of possible applications for smart cards.
Smart Card Usage Gaining Momentum
March 20, 1998 - At the giant CeBIT High Technology Fair in Hanover, Germany, a representative of Intellect Holdings, Ltd. said that a single Smart Card will soon replace dozens of single-purpose swipe cards in the wallets of consumers. The movement to Smart Cards is growing rapidly in Europe and North America. The new breed of Smart Cards combines payment instruments, emergency personal health information, retail loyalty programs, and telecommunications applications. (Yahoo Story no longer on line)
Feb., 1998 - This ComputerLife Online Feature explores the amazing versatility of the Smart Card as a "combination organizer, personal database, and checkbook that will allow you to manage your time, your finances, and -- literally -- your life." Key Tronic already offers a keyboard with a built-in smart card reader to turn your computer into a point of sale device. Existing dispensers can be retrofited to accept the card for even the smallest of purchases (newspalers, candy, etc.). A variety of operating standards has slowed the early acceptance of smart cards, but new uniform standards are emerging, and soon it will be possible "for consumers to participate, seamlessly, in the new global economy."
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Jan. 1998 - Byte Magazine - The Smart Card, used very widely in Europe already, will have an impact on the American scene this year. Security is the big issue, since smart cards are much more difficult to copy. There are helpful links here too.
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Smart Card with 1 Mb Memory!
Dec. 10, 1997 - Amazing Controls has announced a Jumbo Card with more than a million bits of memory. The emerging Smart Card market needs this additional memory to allow multiple functions.
Dec. 9, 1997 - RealMed Corporation today announced the nation's first system to provide on-the-spot, computerized claims resolution and payment. Working with Gemplus, Digital Equipment and MCI, the concept uses Smart Cards for processing insurance claims. The result is possible reduction of billions of dollars of processing costs.
Their news release explains the benefits: "Through this two-way computerized and secure network, physicians receive prompt payments by electronic funds transfer; consumers obtain accurate cost information in real time, and insurers gain the ability to introduce efficiencies into the process of verifying and administering claims. "
Huge Strides Toward Global Commerce
Recent news releases from many major companies indicate how close we are to one global system for buying and selling.
Dec. 2, 1997 - HP, VeriFone and EDS Announce First Global Commerce Initiative to Drive Open Electronic Commerce Into the Next Century
First Global Commerce is a worldwide forum to develop and promote electronic commerce now and in the 21st Century. It will initially represent North America, Europe and Asia. It will provide an open exchange of information and ideas for the technology necessary to establish global electronic commerce.
VeriFone's Integrated Payment System (IPS) forms the initial core solution for the concept. IPS is an electronic commerce platform supporting merchant point of sale, Internet commerce and Smart Card applications.
The Charter Members for First Global Commerce include Citibank, Mondex, Paymentech, Royal Bank of Canada, Sistema 4B, Sumitomo Credit, Visa and Wells Fargo. They are inviting all financial institutions to participate.
VeriSign Inc., the leading provider of digital certificates for Internet commerce and communications has agreed to join First Global.
Dec. 2, 1997 - Smarty Smart Card Reader Receives Mondex International "Seal of Approval"
Smarty(TM) Smart Card Reader from Fischer International Systems Corporation has been certified by Mondex International to work with Mondex smart card and electronic cash smart card payment
systems used by financial institutions worldwide. The Smarty smart card reader looks like a 3.5 inch diskette. It has a slot in the back for a smart card, and fits into any personal computer's 3.5 inch
floppy. With this device, and especially with the Mondex approval, individuals can use their smart cards for commerce all over the globe via the internet, including person-to-person payments!
MasterCard International acquired 51% of the company in February 1997 and has decided to adopt Mondex International's technology as its future choice of strategic chip platform. Mondex is the only electronic cash system in the world to operate with a single global technology allowing for cross-country payments.
Dec. 2, 1997 - Intellect Electronics Launches Wireless Universal Payment Terminal for Mobile Point-of-Sale Purchases
With the introduction of this wireless payment terminal, The Intellect 9770, a new era of point-of-sale electronic funds transfer is made possible. This "go anywhere, do anything" device will allow payment of pizza and other food delivery services, home
maintenance services, package delivery providers, or any other retail outlet that accepts credit, debit, and smart cards.
Oct. 28, 1997 - Senator Bob Bennett, R-Utah plans to introduce legislatin to provide a federal standard for electronic commerce, which is expected to reach $300 billion a year by the year 2000, said Tuesday that he intends to introduce
legislation to provide a federal standard to safeguard transactions on open
networks early in next year's session.
Oct. 16, 1997 - Designed to handle new Java processes, this powerful card also has a Texas Instruments processor, 32 kbyte of non volatile flash memory and 8 kbyte of ROM. This is more computing power than the early Apple and IBM computers had!
September 22, 1997 - Raycom Systems announces the first of a new generation of affordable smart cards that offer secure transactions in both contact and contactless operation. The card includes an 8-bit microcontroller, 2K bytes of FRAM non-volatile memory, and 8k bytes of ROM. It provides up to 16 separate password protected "purses" or data files of any length. It can perform an entire transaction via radio transmission to the card reader in less than 1/10th of a second, making it a true "walk and wave" operation.
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September 15, 1997 - Microsoft prepares for Smart Card integration with the personal computer, and compares it in importance to the advent of the mouse and of the CD-ROM, since it will enable a whole new breed of applications incorporating digital authentication, electronic commerce, and secure communications.
July, 1997 - In this pilot program, Hilton Hotels uses an IBM Smart Card and American Express connections to check guests in and out. The traveller with one of these cards may bypass the registration desk and go to a special kiosk where he or she can check in, get a key, and handle all special benefits which once required a credit card, a frequent flier card, and a hotel card. In addition, there are special free features available, such as on-the-road access to personalized travel profile information. The smart card utilizes a special IBM multifunction chip (MFC) and IBM operating system based on existing industry standards.
In a related story on this page, British Airline Kiosks are providing 30 second airline check-in services using smart cards or magnetic stripe cards (one reader handles both!).
IBM also has an article explaining how the smart card will simplify life and commerce for everyone! Cards of the near future will combine all the functions of the many cards in your wallet and replace cash completely.
July, 1997 - Studies indicate that the smart card business could grow to 3 billion cards by the year 2001 and could increase from a $1 billion a year industry up to $20 billion.
The devices, developed for Mobil by Texas Instruments and the Wayne Division of Dresser Industries, operate on a low frequency radio signal from the pump which causes a transponder to return the user's unique identification number. They are now available in many areas, including the Los Angeles market.
Texas Instruments envisions a future "networked society" shaped by the technology of their digital signal processors or DSPs, which are exceptionally fast and smart semiconductor devices. TI has labs, offices and plant sites in over 30 countries.
Terry Cook, Author of The Mark Of The New World Order, quotes Tim Willard, executive officer of the World Future Society as saying, "The technology behind such a biochip implant is fairly uncomplicated and with a little refinement, could be used in a variety of HUMAN applications."
"Conceivably," Willard said, "a number could be assigned at birth and follow that person throughout life. Most likely, it would be implanted on the back of the RIGHT or LEFT HAND so that it would be easy to scan at stores. You simply scan your hand to automatically debit your banking account."Willard added, "The biochip implant could also be used as a universal type of identification card that would replace all credit cards, passports and that sort of thing. It could also become our medical care ID chip. It could even replace house and car keys someday."
Terry Cook explains that the World Future Society is a New Age Washington DC- based organization that claims 27,000 members globally, including "Future Shock" author Alvin Toffler.
This device may be inserted by a hypodermic needle, and is presently used to track pets and other animals, but itcould be used on humans as well. The transponder consists of electromagnetic coil, tuning capacitor, and microchip sealed in a tubular glass enclosure. The chip is programmed with a unique ID code that cannot be altered. When the tansponder is activated by low-frequency radio signal, it transmit the ID code to the reading system.
Fabulous Growth For Smart Cards
A day rarely goes by without the announcement of some new application or innovation in the Smart Card market. Here are key sites for two of the leaders in this technology. You can check them often to see what's new.
REDWOOD CITY, Calif., - April 16, 1997 - Citibank and VeriFone announced an agreement today under which Citibank will implement VeriFone's VeriSmart system and distribute its Personal ATM devices that will allow customers to download electronic cash to smart cards securely and conveniently in the privacy of their home or office.
April 4, 1997 - In news releases on two consecutive days, Gilbarco and Tokheim announced plans to implement gas pumps and an automated authorization system for fuel dispensers using the MicroStamp(TM) technology from Micron Communications, Inc. Shell Oil Products Company will try the concept in two test markets this summer. They will call it "Shell EASY PAY."
A tiny computer chip and antenna are mounted in a postage stamp-sized keychain. This device communicates with the gas pump from a distance using radio waves to identify the customer and authorize the purchase. Source: AOL (Thanks to Sharon Luzzi)
Micron Communications, Inc offers a new line of products utilizing remote intelligent communications (RIC) technology. These products, marketed under the "MicroStamp" brand name, include devices for for asset tracking, enhanced security systems, automatic vehicle identification, and remote smart card technology.
In a February 17, 1997 press release, this new product was described as a smart card reader which looks like a 3.5 inch diskette, has a slot in the back that accepts a smart card, and fits into any personal computer's 3.5 inch floppy disk drive to access smart card information.
"Smart cards - credit cards with embedded chips for storing values - are widely used in Europe and Japan, and are predicted to grow swiftly in the US," said Michael S. Battaglia, FISC president and chief executive officer. "What's been missing is a low-cost, easy to use 'bridge' between smart cards and personal computers. Smarty is that bridge."
This message was given at the Prophezine International Prophecy Conference, September 20, 1997. Since that time there has already been a considerable release of new information, as can be seen in the Current Events section above.
The real big news right now is what is happening with smart cards. Smart cards are a little different than the cards most of us have in our wallets. They are very popular in Europe. They look the same, except a little thicker – you can hardly notice it. Some of them have little contacts in the middle of the card, but many now use radio waves so they don't need contacts. Inside the card there is actually a little computer, with a tiny battery, and 4K or 8K memory.
Smartcard New consortium
The smart card manufacturers are beginning to band together so they have a standardized platform. They call it MULTOS. They call this "the smart card getting smarter," because now the machine that can read one card will be able to read all the cards. In the United States the major credit card companies are getting ready to switch over. I don't know if they will tell us, or just send us a new card.
With a smart card you can do all kinds of things you can't do with a magnetic stripe card like the ones we have now. The magnetic stripe card lets us store a little information about our account numbers and some personal information, but with a smart card you'll be able to do all kinds of special things: like keep all your passwords. It will store money. Money of the future will not be bills and coins, but digital information. You won't have to go back to the ATM for money because you'll have it right in your smart card. So when you go to a vending machine, you'll just put your card in, and the amount will be subtracted from the card. This is already being done in many places in the world. They call it electronic wallets or purses.
Another big advance in this area is the Smarty Smart Card Reader. It utilizes the floppy disk drive of your personal computer. It allows you to insert your smart card into a slot, and then insert it in the drive, which becomes a reader, which will then act like a personal ATM hooked up to your computer. It won't be able to give you paper money, but you won't need it because the card itself takes the place of money. The average person could afford this device right now. I predict that it will eventually come as a standard peripheral on new computer systems. You will be able to download or even upload money from your bank, or from another person, right at your own computer.
It seems like we have gone about as far as we need to go for somebody to be able to control the commerce of the world. Don't you agree?
for Treasury of Scripture,