The iPhone credit card has recently been introduced into the market.
Some history
A few weeks ago, Visa and DeviceFidelity announced that they would be partnering up to create a case that would allow the iPhone to be used as an iPhone credit card. This release was soon pulled from the market, but then resurfaced recently. Pictures have been released showing the case, and an official release has been made regarding the product. The case is meant to allow consumers to use their iPhone at no-swipe payment terminals as a credit card.
Technicalities
Last year, DeviceFidelity released a near field communications chip. This chip was meant to be placed into a micro-SD card and could then be used in compatible phones as contactless credit cards. Unfortunately, this technology was a bit ahead of the times since there were no phones with microSD slots. Nor is there a microSD slot in the iPhone which is currently being used with this case, to act as a credit card. Instead, the case, which is named “In2Pay”, plugs in the dock connector at the bottom of the iPhone. This provides the interface and power for the DeviceFidelity microSD chip, as well as the communications chip. All users have to do now is to connect the case, download the corresponding iPhone app, and they can simply pay with a wave of their iPhone.
Usefulness
This new iPhone case could greatly expand the iPhone’s functionality. The use of the iPhone as a credit card might mean that this will be the new prestige credit card, rather than black or platinum cards. It might also enhance the iPhone’s popular appeal. The case is slim and unobtrusive enough to be used consistently with the iPhone, instead of having to attach and reattach it every time. Shoppers no longer need to search their wallets for their cards – the iPhone might make paying the bills easier.
Another logical extension of this new application is the possibility that other microSD cards could be used with the iPhone to transfer other kinds of files and storage to the phone. This again means that a whole new range of uses for the iPhone could be developed. The use of these additional microSD chips is not entirely out of the range of possibility in the near future!
At this stage, support for the iPhone credit card is only available for Visa.
