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Can someone explain the benefits to me? Thinner wallet, I guess? I don't know if consumers have much to gain from the security, so is this targeted at banks try
by acgourley 16y ago
Can someone explain the benefits to me? Thinner wallet, I guess? I don't know if consumers have much to gain from the security, so is this targeted at banks trying to reduce fraud?
It's funny I remember the square guys telling me you can get in a lot of trouble for re-programming credit cards, surprised this technology isn't violating some obscure laws.
- dangrossman 16y agoVisa/MasterCard, which create those regulations, are basically owned by their member banks. It's banks that issue credit cards. So if banks want to issue a new kind of credit card with technology like this, they'll rewrite their own regulations to allow it.
- poutine 16y agoVisa and Mastercard are no longer owned by the banks, they both went public in the past couple of years and are increasingly acting as independent organizations.