Citigroup is soon going to launch the trial of a credit card which would enable you to pay using your regular card account or the accumulated reward points. The user needs select the button on the credit card and select what method they want to choose for payment. Selecting the appropriate button would electronically re-write the card’s magnetic strip and the chosen account would be debited by the card swipe machine.
The Dynamic group is developing prototypes of these cards and claim that it would be as thin as the normal card and also have security features such as coded keypads. When not in use the card’s number display and magnetic strip would be locked. More details about various mechanisms and features would be released later. Now, I would love to have such smart credit cards in my wallet soon and I am sure you would too.
