Are Smart Cards, Er, Smart?

American Express is at the helm again. They are serving up smart cards to customers long before anyone else in the U.S. has even hopped on the bandwagon.

What makes a smart card smart? Well, each card is loaded with a mini-microprocessor that allows the user to enter identification data for each transaction. It works similarly to a bank debit card where the user must enter a password. Smart cards can also have an amount of money “loaded” so the user can use it like traveler’s checks. AmEx’s new Blue Card is a credit card plus. It comes with a menu of services, including a site where customers can pay bills online and fraud protection.

Europeans have been “smart” for a long time. U.S. companies realize that, with the need for tighter credit card security, it’s time to embrace smart cards. The booming e-commerce activity alone could help bolster smart card supporters.

Experts hypothesize that smart cards will grow in use 60 percent over the next year.

You may like these other stories...

Cybersecurity is no longer the domain of an organization's IT staff. It's moved to the boardroom, and in a big way. Accountants and financial managers may have been thinking it's just the province of the tech...
You probably don't want to think about how many times you access the File menu in Excel 2010 or 2013. Personally I think Excel 2010 has the best possible File menu arrangement, other than having Print Preview grafted...
Following other recent high-profile hacking events, investigators discovered yesterday that hackers broke into the draft work paper files of several famous CPA firms. Revealing images of the scantily clad documents have been...

Already a member? log in here.

Upcoming CPE Webinars

Sep 24
In this jam-packed presentation Excel expert David Ringstrom, CPA will give you a crash-course in creating spreadsheet-based dashboards. A dashboard condenses large amounts of data into a compact space, yet enables the end user to easily drill down into details when warranted.
Sep 30
This webcast will include discussions of important issues in SSARS No. 19 and the current status of proposed changes by the Accounting and Review Services Committee in these statements.
Oct 21
Kristen Rampe will share how to speak and write more effectively by understanding your own and your audience's communication style.
Oct 23
Amber Setter will show the value of leadership assessments as tools for individual and organizational leadership development initiatives.