The Matrix," the sci-fi box-office smash, envisions a future in which artificially intelligent computers take over. Instead of programming the computers, humans become the slave race, serving as living batteries that provide energy for their former desktop tools…..We’re not quite there yet but if Visa or MasterCard had their way contactless chip’s would be implanted in our hands at birth with a fixed low APR rate. Maybe even 0% APR for your first 18 years of life? Birth certificates would be signed and shortly thereafter glowing proud parent’s would go from hospital bed into offices and negotiate with sales rep's from Visa in one room and than move to the MasterCard suite. You thought buying a new SUV was bad.(Digital Transactions - May 31, 2007) All that being said information is beginning to emerge indicating that consumer usage of contactless devices for payments may be picking up. According to an Internet survey conducted by Atlanta-based Synergistics Research Corp. late last year, 9% of respondents had used a contactless card or fob. In two previous surveys, both conducted by phone in late 2005 and late 2004, usage had been flat at 4%. The studies involved 1,000 consumers. On Thursday, another researcher, Report Buyer, estimated contactless transactions in the U.S totaled 777 million in 2006 on 27 million cards and fobs, or around 3% of all general-purpose credit card and signature-debit card transactions. The U.K. firm projects these numbers will grow to 2.2 billion transactions on 109 million devices by 2011.
You know I am probably in the age range and demographic that these researcher's would consider as someone who would adapt to this technology. I remember when Speed Pass came out at Exxon gas stations. I wasn't impressed back then and I am still not moved to adapt today.…..but you never know my wife is due with twins this September. Imagine the serious negotiation power I would have with the card companies with two babies.
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