EDITORIAL : SMART CARD, BAD IDEA.SOON, you'll be carrying Buck Rogers This article is about the science fiction character. For other uses, see Buck Rogers (disambiguation). Buck Rogers is a fictional pulp character who first appeared in 1928 as Anthony Rogers, the hero of two novellas by Philip Francis Nowlan published in the magazine and the 21st century around in your back pocket. Forces are at work to create one plastic card that contains everything you need to function in life. Imagine having your Social Security number, employer ID, all your bank account numbers, every credit card you own, your telephone calling card, your health insurance card and even your Blockbuster video rental card all in one. By using a microchip (1) Another term for a microminiaturized integrated circuit (a "chip"). (2) To insert an RFID tag beneath the skin of an animal. It is expected that some day, humans will be microchipped. that stores all the information and by incorporating fingerprint fingerprint, an impression of the underside of the end of a finger or thumb, used for identification because the arrangement of ridges in any fingerprint is thought to be unique and permanent with each person (no two persons having the same prints have ever been ID to protect it, companies are close to offering one card known as a ``smart card.'' Advocates say consumers are behind the push for a digital wallet The electronic equivalent of a wallet for e-commerce transactions. Also called an "e-wallet," it holds credit card data and passwords for logging into Web sites. The wallet data may reside in the user's machine or on the servers of the wallet service. . It lightens the wallet and relieves the worries of someone stealing your card and having a good time without you. But pardon us if we're a tad skeptical. The benefits seem aimed at bankers and credit companies more than consumers. For example, credit card companies such as MasterCard, hit by $450 million in credit card fraud Credit card fraud is a wide-ranging term for theft and fraud committed using a credit card or any similar payment mechanism as a fraudulent source of funds in a transaction. The purpose may be to obtain goods without paying, or to obtain unauthorized funds from an account. last year alone, can reduce their losses with a smart card. With an electronic money card, only the amount of money stored on a microchip is gone if the card is lost or stolen. The bank is not out, even though the consumer is. Do federal laws on consumers privacy, liability, financial crimes and fraud or other legal issues apply to electronic banking? No one knows yet. If regulators see the card as money, then the card's owner would probably be responsible for losses. If the cards are viewed as deposits, then they may be insured by the Federal Deposit Insurance Corp. Banks also are finding electronic banking much cheaper than traditional banking. Experts say starting a typical bank branch costs $2 million while starting a Web site costs $25,000. Realization of a super-duper all-in-one card is closer than you might think. An electronic money card is being test-marketed in Atlanta during the Olympic games Olympic games, premier athletic meeting of ancient Greece, and, in modern times, series of international sports contests. The Olympics of Ancient Greece Although records cannot verify games earlier than 776 B.C. and has already seen action in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of and Australia. While the comptroller's office and the Federal Reserve are working on proposed measures covering forms of electronic transactions, we urge caution. Diversify your pocketbook. Our slogan: One card. One microchip. One macro-headache. |
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