A clever electronic magstripe card from Dynamics is grabbing some attention through a Citi pilot and a full court PR press including a recent appearance at NYC Finovate.
But the writer gets it right.
It is a transitional product.
The future will belong to mobile phones and NFC.
It will take decades to eliminate all cards but the mobile phone as wallet and transaction mediator is a certainty.
Two bits of news chart the evolution and demise of that dumb piece of plastic in your wallet. First, it will get very intelligent. Second, it will disappear.