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CardSpring
This startup has interesting technology which would allow a single physical card to perform multiple functions. Their approach requires no cooperation from the card issuer, and does not depend on the card technology (e.g. EMV vs swipe), but it does require cooperation from the transaction processors. It works because essentially all USA card transactions are processed "online" which means the processor can lookup records associated with the card simultaneously with submitting the transaction for approval.
This NYT article gives some examples: http://bits.blogs.nytimes.com/2012/0...dspring&st=cse Instead of having to tote around plastic gift cards, for example, CardSpring can let consumers add the dollar value on them to a credit card, he said. Consumers can use it to link a loyalty program like an airline frequent flier number or a supermarket membership card to their credit card accounts so they don’t have to whip out a separate card to collect miles or discounts. CardSpring will let consumers receive digital receipts for their purchases so they don’t have to stuff paper receipts into their wallets. |
This looks really interesting. I would be weary of handing over all my card #s though.
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Originally Posted by jcmitchell21
(Post 18194302)
..wary of handing over all my card #s though.
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Although Reward Network does not obtain the expiration date or security code so much harder to use without that. Besides I think nearly every credit card nowadays has zero fraud liability.
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