The obvious solution would be to look for a substitute, rather than try and do the same old card thing.
I think everyone is pretty convinced that we'd like to lose the cards, especially if it means losing the fraud, and it can. I don't know about you but I think the future is with mobiles and the card is in the past and I don't even see how anyone could justify
a card based business model any more.
The retail credit business isn't about cards and I could use all sorts of slogans like 'it's not a card, it's a state of mind'©, but I suppose they'd be best saved for the eulogy.
Meanwhile I'm betting a mobile solution will win.
Hi Stephen, to address some of your points:
ATMs, why not? - I'll talk to Mike Lee of the ATMIA. We can make it much safer. It can only be a good thing for ATM owners and customers and even reduce the costs
EFTPOS, We have already tested a sytem which is worlds apart from EFTPOS, but we could equally interface with the existing EFTPOS. network, but it's more expensive than without using the EFTPOS.
over-the-counter banking, - we have already a system for in branch ID for banks and it's way ahead of anything else in terms of cost of deployment and operation and resistance to bank insider fraud.
and human readable proof of entitlements - All our solutions are human readable and multi-lingual.
driver licences - easy done
health insurance - even better!
airline lounge membership - why not ticketing and boarding too?
"nobody at the British Airways Executive Club desk is going to let me in based on a picture of a BA card on my phone" - Did I ever suggest that? That would be ridiculous, but I could certainly let you use your phone to gain entry.
I am also not suggesting any process which could ever be described as 'klunky' even with the most strong critique.
As for the very respected and worthy Bruce who has been quoted in context of something entirely different to what we offer : " I'm far more likely to use a physical card than a virtual one that I have to remember is attached to my driver's license number."
- Did I ever suggest that? That would be ridiculous, but I could certainly let you use your phone and wouldn't require you to even remember you had a drivers license number.
While you're driving you might use us for pay at the pump which has some attractive advantages for struggling service station owners who in some cases pay more than their pre-tax profits in interchange fees.
"recognizes me as a frequent flier or a preferred customer" - it certainly can do that and what's more it'll make feel like you really are one.
SMS has it's place for providing snippets of information but I would never suggest that you use it for authentication - too 'klunky' and impractical, the same holds for most transactions - I'm not known for my enthusiasm for klunky - more the reverse.
There are brand issues with all other approaches, and we believe we have addressed the brand issue and may consider processing for well known brands. We have some surprises for the non-financial brands as well and our current project provides the infrastructure
for the primary business coming next.
So far I'm thoroughly convinced that Stephen will embrace what we offer like a lost brother, and I'm confident of winning over Bruce Schnier and will endeavour to offer him early custom, I have read almost everything he's written.
"Phones don't work for bricks and mortar" thing (again referring to an inferior product) -
Oh yes they do work for both web and bricks and mortar.
The real world is where the real money is. The internet is just the icing on the cake.
The solution we propose might not be what everyone thinks they want at first but before long it should win everyone over, especially through the enormous range of practical applications.
We have a solution which will never be obsolete so we've plenty of time to get it right.
The only thing which could be easier or cheaper is mental telepathy but I wouldn't hold my breath waiting for that one.
I appreciate the queries and comments and apologise if I sound too confident but we certainly have every reason to be confident that we will play a part in bringing the future into the present.