“Our payment cards in future are going to have an IC, wireless antenna, and a screen, too.”
I got frustrated when I lost my credit card last time. This one incident changed all my shopping plans for my friend’s wedding and instead of shopping, I spent time applying for a new card.
Misplacing a credit or debit card is not a big deal but it definitely has potential to ruin your plans like it ruined mine.
But thanks to MasterCard that has found a solution for instances like this. One of their patents proposes using our smartphones to alert us whenever we misplace our payment card.
The fact that we carry our smartphone everywhere is utilized by MasterCard in this invention. Also, one of the figures of the patent indicates that soon MasterCard is going to embed ICs in its payment card which will make our payment cards smarter.
Further, our payment card will be loaded with wireless antenna and battery. As per one embodiment of the patent, the card may be able to stay in touch with a smartphone using Bluetooth, BLE, or WiFi.
The patent image below depicts cross section of one of such cards:
So How MasterCard is tracking your payment card using smartphone?
The patent says that your payment card will stay in touch with your smartphone through wireless mean. And your smartphone will have a card locator app by MasterCard installed.
The card location tracker app turns Bluetooth or WiFi on and sends a wireless signal – it used polling technique here. A card in the vicinity receives and responds to the signal.
If the App determines that there is no response from the card, you will be alerted. It may send you an SMS, email or may call you to let you know that your card is not in your possession.
After that you may go ahead with reporting that you have lost of misplaced you card. In the next step, you will receive the last known location of your payment card.
In another patent, MasterCard disclosed a payment card with a screen. I wrote about the disclosure in this article: MasterCard with LCD screens are ready to show you ads.