Plastic payment methods have quickly become the norm. It seems nearly every business totes their own loyalty card or a credit card with special benefits. Between all of these credit cards, debit cards, gift cards, and loyalty cards, it can be hard to keep track of everything, let alone fit them all into a single wallet. Fortunately, advancements in digital banking may soon make the problem of frantically searching for one card among dozens a thing of the past.
Our Tech Tool of the Month has the ability to consolidate multiple payment cards into a single smart card. Introducing EDGEcard, a touch-screen smart card with outstanding capabilities. Utilizing a smartphone camera and the integrated EDGEcard app, users can easily upload various payment methods with a simple photograph. Once uploaded, users are able to make informed financial decisions using live banking information. A simple swipe of the finger showcases each card’s current balance, remaining credit, and payment due date. Once the card is used to make a purchase, a digital receipt is automatically sent to the EDGEcard app making it easier than ever to keep track of daily expenses.
While EDGEcard is admittedly not the first to enter the smart payment arena, they aim to excel where their competitors have failed. One way EDGEcard plans on flourishing in this ever-challenging venture is to focus on compatibility. In order to ensure users can use the EDGEcard everywhere they would use a regular card, it has been developed to be compatible with every payment method currently in use. This means it can be swiped like a magnetic strip, inserted like an EMV chip, or scanned like an NFC contactless payment method.
Unlike smartphone payment methods that can be maliciously accessed over wifi, EDGEcard is secure. The card utilizes thumbprint recognition, stores a digital ID, GPS locator, and a pin code. This means that if the card is ever misplaced, users can simply lock the screen and prevent others from accessing private banking information. However, misplacing this smart card may be a challenge in and of itself as the app notifies users if the card is ever left behind using the GPS locator. The built-in GPS also notifies users of nearby deals at businesses they frequent.
Perhaps the only drawback to this digital super card is the fact that it requires charging in order to carry out all of these wonderful capabilities. Fortunately, the card is being designed to last 15 days without a charge, which means users may only need to charge the card twice a month. That sounds like a pretty fair trade considering the many benefits it provides users. On the off chance that the card does lose power before it’s been charged on its wireless charger, a preselected default card can be used even when the battery is completely drained.
Unfortunately, EDGEcard is still in the development stage, but the future looks promising. The company aims to excel where its predecessors have failed, which means it could be the first truly compatible smart payment method on the market. The card is set to be released later this year, so those eager to throw away their plastic and get their hands on this revolutionary all-in-one smart card may not have to wait too much longer.
Kali Muir is an ambitious freelance writer with a BA in Communications. She was born in Canada but has since lived in Norway, Denmark, and England. Her work experience is as diverse as her past addresses, including roles in technical communication, corporate communication, marketing, and article writing. She has experience working in varied business sectors: Oil & Gas, Engineering & Technology, Clothing & Equipment Retail, and Creative Writing. Follow Kali’s professional and personal journey at www.kalimuir.com, or connect with her on LinkedIn and Twitter.