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Amazon wants to turn your hand into a credit card

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Amazon wants to turn your hand into a credit card

"While Amazon’s plan is in the early stages, the company has reportedly begun working with Visa on testing out the terminals, and has discussed the project with Mastercard, JPMorgan Chase, Wells Fargo and Synchrony Financial."

 

https://www.cnbc.com/2020/01/18/amazon-reportedly-wants-to-turn-your-hand-into-a-credit-card.html 


Around 5 years from now I am going to be reading a paper about how Amazon's data analytics team found a significant correlation between hand features and a person's creditworthiness.

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Re: Amazon wants to turn your hand into a credit card


@CassieCard wrote:

"While Amazon’s plan is in the early stages, the company has reportedly begun working with Visa on testing out the terminals, and has discussed the project with Mastercard, JPMorgan Chase, Wells Fargo and Synchrony Financial."

 

https://www.cnbc.com/2020/01/18/amazon-reportedly-wants-to-turn-your-hand-into-a-credit-card.html 


Around 5 years from now I am going to be reading a paper about how Amazon's data analytics team found a significant correlation between hand features and a person's creditworthiness.


Hmm. Might as well. 



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Message 2 of 13
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Re: Amazon wants to turn your hand into a credit card


@CassieCard wrote:

"While Amazon’s plan is in the early stages, the company has reportedly begun working with Visa on testing out the terminals, and has discussed the project with Mastercard, JPMorgan Chase, Wells Fargo and Synchrony Financial."

 

https://www.cnbc.com/2020/01/18/amazon-reportedly-wants-to-turn-your-hand-into-a-credit-card.html 


Around 5 years from now I am going to be reading a paper about how Amazon's data analytics team found a significant correlation between hand features and a person's creditworthiness.


You know, when really the name of the game is about verifying someone's identity... this doesn't sound that far fetched.  

 

That said, I don't know if I want our entire payment system to go to finger print identification but real privacy is dead and gone anyway by now other than someone who doesn't use the Internet and uses cash for literally everything and doesn't even hold a job... yeah, not happening for me.




        
Message 3 of 13
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Re: Amazon wants to turn your hand into a credit card

Adding biometrics would add another level of fraud protection, it would not be foolproof but would make fraud disputes nigh impossible even if it was hacked. I'm still waiting for them to come up with an implant that uses biological encryption, "In Time" comes to mind



Goal: Mortgage/Chase Trifecta




Message 4 of 13
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Re: Amazon wants to turn your hand into a credit card


@Nomad3 wrote:
Adding biometrics would add another level of fraud protection, it would not be foolproof but would make fraud disputes nigh impossible even if it was hacked. I'm still waiting for them to come up with an implant that uses biological encryption, "In Time" comes to mind

I liked that movie. (For anyone else wondering:  In Time [2011])

 

So that would be..."ACH wants to turn your arm into a universal payment method".

Message 5 of 13
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Re: Amazon wants to turn your hand into a credit card

The problem still remains of which card will be attached to said hand device. After all, what would happen if you waved all your contactless cards over the machine at once?

 

So do they implant a seperate chip in each finger for all the different accounts? 

 

This feature only makes sense if it's Star Trek and all charges debits one acount, your main Bank account. Hence a certain amount of credits were deducted from your account for said purchases. 

 

 






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Re: Amazon wants to turn your hand into a credit card


@Janus wrote:

The problem still remains of which card will be attached to said hand device. After all, what would happen if you waved all your contactless cards over the machine at once?

 

So do they implant a seperate chip in each finger for all the different accounts? 

 

This feature only makes sense if it's Star Trek and all charges debits one acount, your main Bank account. Hence a certain amount of credits were deducted from your account for said purchases. 

 

 


I think thia article is not talking about any implants, it's just saying that instead of using a card it would scan your palm/fingerprints and the biometric data would link to your Amazon account and use default card that was setup.

 

I brought up implants as an alternative that will probably come in the future. It wouldn't be a stretch to say that it could hold multiple "cards" and you would have some means of selecting which "card" you want to use just by "thinking" it. We technically already have the technology, but I don't see that coming for YEARS. But that's juat a tangent, not really what this post/article was about. I love Sci-Fi so I was just postulating a future possibility. Sorry if I took this thread too far off topic.

 




Goal: Mortgage/Chase Trifecta




Message 7 of 13
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Re: Amazon wants to turn your hand into a credit card


@Nomad3 wrote:

@Janus wrote:

The problem still remains of which card will be attached to said hand device. After all, what would happen if you waved all your contactless cards over the machine at once?

 

So do they implant a seperate chip in each finger for all the different accounts? 

 

This feature only makes sense if it's Star Trek and all charges debits one acount, your main Bank account. Hence a certain amount of credits were deducted from your account for said purchases. 

 

 


I think thia article is not talking about any implants, it's just saying that instead of using a card it would scan your palm/fingerprints and the biometric data would link to your Amazon account and use default card that was setup.

 

I brought up implants as an alternative that will probably come in the future. It wouldn't be a stretch to say that it could hold multiple "cards" and you would have some means of selecting which "card" you want to use just by "thinking" it. We technically already have the technology, but I don't see that coming for YEARS. But that's juat a tangent, not really what this post/article was about. I love Sci-Fi so I was just postulating a future possibility. Sorry if I took this thread too far off topic.

 


It's definitely not a stretch: Brain-Computer Interfaces in Medicine [Mayo Clinic Proceedings, March 2012]

 

Anyone can do a Google search for 'BCI's' and see numerous examples of current R&D devoted to this. I don't think it's too far off topic at all.

 

Message 8 of 13
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Re: Amazon wants to turn your hand into a credit card


@Nomad3 wrote:

@Janus wrote:

The problem still remains of which card will be attached to said hand device. After all, what would happen if you waved all your contactless cards over the machine at once?

 

So do they implant a seperate chip in each finger for all the different accounts? 

 

This feature only makes sense if it's Star Trek and all charges debits one acount, your main Bank account. Hence a certain amount of credits were deducted from your account for said purchases. 

 

 


I think thia article is not talking about any implants, it's just saying that instead of using a card it would scan your palm/fingerprints and the biometric data would link to your Amazon account and use default card that was setup.

 

I brought up implants as an alternative that will probably come in the future. It wouldn't be a stretch to say that it could hold multiple "cards" and you would have some means of selecting which "card" you want to use just by "thinking" it. We technically already have the technology, but I don't see that coming for YEARS. But that's juat a tangent, not really what this post/article was about. I love Sci-Fi so I was just postulating a future possibility. Sorry if I took this thread too far off topic.

 


Or realistically, we will just set a specific card to be used for a set of transactions.

 

That's easy to do and just requires the addition of a few lines of code frankly; small key:value type data structure and a conditional statement  plus the obligatory error checking and presto blammo.

 

I am a terrible software developer and even I can write that.  The only reason I can see we don't have that today is banks are making it artificially difficult to leverage their rewards... when we get to Amazon with their customer first mantra (which they will mention no fewer than 6 times if you interview with them), we'll probably have that.

 




        
Message 9 of 13
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Re: Amazon wants to turn your hand into a credit card


@Revelate wrote:

@Nomad3 wrote:

@Janus wrote:

The problem still remains of which card will be attached to said hand device. After all, what would happen if you waved all your contactless cards over the machine at once?

 

So do they implant a seperate chip in each finger for all the different accounts? 

 

This feature only makes sense if it's Star Trek and all charges debits one acount, your main Bank account. Hence a certain amount of credits were deducted from your account for said purchases. 

 

 


I think thia article is not talking about any implants, it's just saying that instead of using a card it would scan your palm/fingerprints and the biometric data would link to your Amazon account and use default card that was setup.

 

I brought up implants as an alternative that will probably come in the future. It wouldn't be a stretch to say that it could hold multiple "cards" and you would have some means of selecting which "card" you want to use just by "thinking" it. We technically already have the technology, but I don't see that coming for YEARS. But that's juat a tangent, not really what this post/article was about. I love Sci-Fi so I was just postulating a future possibility. Sorry if I took this thread too far off topic.

 


Or realistically, we will just set a specific card to be used for a set of transactions.

 

That's easy to do and just requires the addition of a few lines of code frankly; small key:value type data structure and a conditional statement  plus the obligatory error checking and presto blammo.

 

I am a terrible software developer and even I can write that.  The only reason I can see we don't have that today is banks are making it artificially difficult to leverage their rewards... when we get to Amazon with their customer first mantra (which they will mention no fewer than 6 times if you interview with them), we'll probably have that.

 


SMOP. haha You may be a 'terrible software developer', but you'd make an awesome Senior Project Manager based on what I've experienced!

 

I love your idea! 'Card selection by Merchant Category Code'. One of the reasons I left programming for various financial services was that they are soooo resistant to change. I hardly ever got to implement new features which I absolutely knew would improve workflow efficiency.

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