Dynamic Smart Cards Are Effective Payment Solution

(Newswire.net — October 27, 2016) Tallahassee, FL — Electronic credit card theft is one of the fastest growing crimes today. Financial institutions and companies have resorted to measures such as the RFID technology to increase the protection of consumers against fraudsters. There is another potential solution against identity theft, and one is through the use of smart cards.

Dynamic smart cards are believed to be an effective all-in-one payment solution for consumers. According to experts, these smart credit cards do not just offer convenience but also security. Consumers do not have to carry dozens of cards such as reward cards, and instead use the dynamic card of all of their payment options.

These dynamic smart cards are embedded with a Bluetooth connection, which acts on behalf of a variety of cards. This includes reward cards, debit cards, and in-store club cards. Consumers do not have to carry wallets that are overcrowded with cards through the use of this digital card.

In addition to convenience and security, these cards also feature an app that allows consumers to manage their budgets and monitor their transactions online. Eventually, the tokenization feature will be offered.

Tokenization works by masking the identity of the credit card for every transaction. This prevents exposure of the consumer’s true account number during a credit card data breach.

Most credit cards nowadays have two magnetic stripes, namely the Track 1 and Track 2. They are usually invisible since they are covered with what appears like a single stripe. Track 1 is used for the name of the owner and Track 2 is for the credit card number. Having both tracks mean that the card will be accepted universally.

There are also security features that make these smart cards even more popular. They can verify the ID to ensure that fraudsters cannot create smart credit cards using the name of the holder.

There are also security measures used when holders add accounts to their smart card and when they lose their card.

It is undeniable that electronic credit card thieves are scattered everywhere. Individuals who have credit cards with RFID technology should resort to measures that could help increase their protection against thieves.

One is to use the set of RFID blocking sleeves, which work by blocking the signals between the credit card and RFID card reading devices usually used by fraudsters. Individuals who want to protect their credit and debit cards may use these sleeves, especially when they go through crowded places such as subways.

The set of RFID blocking sleeves can be purchased at amazon.com.

 (http://amazon.com/rfid-sleeves-for-credit-cards/dp/B0150T0AI2).