Idea: Remember the lines from Seinfeld? George: "Because important things go in a case. You got a skull for your brain, a plastic sleeve for your comb, and a wallet for your money". Nowadays in addition to cash, you need to carry multiple credit/debit cards in your wallet. How about a cellphone which can be programmed to provide an interface to all your credit/debit cards? For example, your cellphone could have an interface to use each of your cards, and once you select a card to use, it sends an encrypted SMS to the shop. Instead of swipe machines, the shop could have smart SMS readers who can decrypt the message and use the card information from the message towards the customer's shopping cart.
Reward: No need to carry physical cards in your wallet. Remember? Jerry: [referring to George's stuffed wallet] "Your friend is morbidly obese".
Bonus: Secure shopping! Since you don't need to carry your credit/debit cards, your shopping can be really hassle-free.
Reward: No need to carry physical cards in your wallet. Remember? Jerry: [referring to George's stuffed wallet] "Your friend is morbidly obese".
Bonus: Secure shopping! Since you don't need to carry your credit/debit cards, your shopping can be really hassle-free.
6 comments:
I liked the idea but there are still some concerns like losing a cellpphone as you are losing a credit/debit card , how good will be use model and finally how secure will be banking technology when integrated with mobile technology
oh boy......this is risky...it wuld be tough to make it hacker safe!!!! wat if forget your phone at home or your battery gets discharged and you are stuck somewhere....no money and no way to call anyone help for money!!!
I think its a great idea and i don't for-see any problem in its implementation. May be the idea of making cellphone a unified carrying case might not click with the people, but i am sure in future people are going to invent devices which can be termed as unified carrying cases.
Radhika: While I agree with you that this is moving in the direction where cellphone will become your single point of failure, but then I foresee days when people carry instant chargers for their cellphones, and remote (yet secure) access to their cellphones from other devices.
It is a risky venture.
I agree with Radhika when she says, losing one means losing all. Not a very happy thought.
However, if you could encrypt your cell phone so that it can only open/be used with your fingerprints, then you atleast safe in the notion that even if you lose it, it can't be used.
I think mobile banking can also be made secure once we secure the cellphone by biometric authentication.
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