The ONLY Card You'll Ever Need !!

Anonymous · ‎07-15-2015

looks good, but at 229, I would rather just make a downpayment on a new smart phone.

Anonymous · ‎07-15-2015

I wonder what will happen when all the stores move to emv?

savingmoney87 · ‎07-15-2015

@Anonymous wrote:
@Anonymous wrote:
@ScoreOrBeScored wrote:
@CreditCuriousity wrote:
Problem is Chip and Sig unless I am missing something.. So obsolete if the store makes you use chip and sig.. Otherwise would of got a similiar thing
Not too worried about it. As 98% of merchants machines don't work anyway or they don't have them. Walmart is mainly the place chip cards

work at anyway. Lol.
You realize that Oct 1 that will completely change don't you? Most merchants will have them and it will make that wallet useless
Ha, Got'eem.

LMBO....

]

savingmoney87 · ‎07-15-2015

@UncleB wrote:
I wouldn't mind giving it a 'go', but a minimum-wage cashier would most certainly demand to see my card and ID (like they do several places I shop). This would cause a scene since they would likely *freak* when they realized I didn't swipe a 'real' credit card. This, in turn, would cause me to be irritated, and ruin an otherwise perfectly fine transaction.

Since I don't have the energy to educate/train random cashiers, I guess I had better wait on this one...

Wow... LOL... I could see this scene playing out. Lord knows I already hate to wait in lines at a number of the places... I'd be right behind you in the line. Like yes, thats a thing now can we hurry it up please. LOL

]

axlm · ‎07-16-2015

@longtimelurker wrote:

On EMV, Plastc says:

How is Plastc compatible with EMV cards?
We will have an EMV card reader that will transfer data from your EMV card to your Plastc Wallet. Plastc has a rewritable chip technology that will rewrite your Plastc Card based on whatever EMV card you select. When you insert your card into the reader, we will be adhering to PCI standards for storing and encryption when inputting your data onto the Wallet app, as well as transferring your data to your Plastc Card.

Sounds very like cloning!

I don't think so. From Plastc blog:

"We’re working extra hard to enable the EMV and NFC credit and debit card functionality with a firmware update. It’s not legal nor possible to extract the data from an EMV or NFC credit or debit card. So using your account data and the data from the magnetic strip from your credit and debit cards added to your Plastc Wallet App, Plastc will be requesting tokenized card data from the payment networks via a secure channel and stored directly to the secure element on the Plastc Card. At this point the Plastc Card will behave the same way your existing EMV and NFC credit and debits cards do."

If I read this well, they will be like a middleman talking to payment networks. Something like ApplePay?

Barclays Rewards - $8,800 (RIP Sallie Mae)

Last update: NOV 2022

UncleB · ‎07-16-2015

@axlm wrote:
@longtimelurker wrote:

On EMV, Plastc says:

How isPlastc compatible withEMV cards?
We will have an EMV card reader that will transfer data from your EMV card to your Plastc Wallet. Plastc has a rewritable chip technology that will rewrite your Plastc Card based on whatever EMV card you select. When you insert your card into the reader, we will be adhering to PCI standards for storing and encryption when inputting your data onto the Wallet app, as well as transferring your data to your Plastc Card.

Sounds very like cloning!
I don't think so. From Plastc blog:

"We’re working extra hard to enable the EMV and NFC credit and debit card functionality with a firmware update. It’s not legal nor possible to extract the data from an EMV or NFC credit or debit card. So using your account data and the data from the magnetic strip from your credit and debit cards added to your Plastc Wallet App, Plastc will be requesting tokenized card data from the payment networks via a secure channel and stored directly to the secure element on the Plastc Card. At this point the Plastc Card will behave the same way your existing EMV and NFC credit and debits cards do."

If I read this well, they will be like a middleman talking to payment networks. Something like ApplePay?

That does sound a lot like the tech Apple Pay uses, which leads me to the next question... will all the financial institutions have to 'buy in' to this tech like they do with Apple Pay?

If so that could be a long, long road.

Anonymous · ‎07-16-2015

If Plastc, Coin, etc. came out earlier than they did (AND worked nearly 100% reliably at least in the US, which they don't seem to do according to reviews) I could see us delaying EMV for quite a while or canceling it completely. They could just use the same tokenization type of deal that Apple Pay uses now and banks would be able to push new info in the event of a breach.

The downside would be that we'd still have problems using our cards overseas because no one would know how/want to swipe them.

core · ‎07-16-2015

@axlm wrote:
I don't think so. From Plastc blog:

"We’re working extra hard to enable the EMV and NFC credit and debit card functionality with a firmware update. It’s not legal nor possible to extract the data from an EMV or NFC credit or debit card. So using your account data and the data from the magnetic strip from your credit and debit cards added to your Plastc Wallet App, Plastc will be requesting tokenized card data from the payment networks via a secure channel and stored directly to the secure element on the Plastc Card. At this point the Plastc Card will behave the same way your existing EMV and NFC credit and debits cards do."

If I read this well, they will be like a middleman talking to payment networks. Something like ApplePay?

I don't really know what this means. Normally a "token" is a one-time-use thing. (There's another use for the word "tokenized" but it means largely nothing... but whitepaper authors LOVE to use meaningless terms like "the cloud".) If you have to dock and get a new token before each purchase, it's hardly useful. I'm still trying to ascertain exactly what it is that they're doing.

But UncleB brought up something... for those of you that use ApplePay, do the MCC codes always post correctly? AAPL has a _lot_ more clout than some startup though, and I can see how they could manage to pull it off. Plastc, not so much. Otherwise, what's to stop me as a lone wolf application developer making my own little system (with business backing) which changes the MCCs from bars to grocery stores for my Amex OBC or whatever else? Virtually uncapped rewards. I'm gonna be right on this for sure if they try it.

It will never happen. If it does, I'm gonna be sitting pretty with all kinds of ill-gotten cash rewards per month until it ends.