(Login Nafana) Forum Owner Posted Jun 25, 2006 8:05 PM
Yes, I've heard of these- and some others that use a RFI chip that doesn't require swiping.
The problem is how to prevent unauthorized use- say if the card or chip is stolen. There are various biometric ID systems- thumbprint- iris scans, etc being tried. However in the US, there is a federal law that says if you promptly report your card stolen you are not liable for more than $50 on fraudulent charges. I lost a card years ago, called the bank and they immediately canceled the card. I wasn't charged anything. I think you can do this over the internet now too. And you can also check any charges that have been made to it over the internet.