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Smart Cards: The Wave of the Future, or Big Brother ?

Smart Cards: The Wave of the Future, or Big Brother ?. Presented By: Barb Flick Nick Feigner Mojdeh Namin Cathy M Tran Merlin Varaday. Introduction. Smart Cards are a “credit card” with a “brain” (Rinaldo di Giorgio). Overview of Smart Cards. Discussion of technology and history

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Smart Cards: The Wave of the Future, or Big Brother ?

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  1. Smart Cards: The Wave of the Future, or Big Brother ? Presented By: Barb Flick Nick Feigner Mojdeh Namin Cathy M Tran Merlin Varaday

  2. Introduction • Smart Cards are a “credit card” with a “brain” (Rinaldo di Giorgio).

  3. Overview of Smart Cards • Discussion of technology and history • Demographics • How different economies use Smart Cards • Possible new uses on the horizon • Pros and cons of Smart Card use • Analysis and conclusion

  4. Definition and Technology of Smart Cards • General Definition • Types of chips on a Smart Card • Levels of functionality on a Smart Card • Contact and non-contact cards

  5. General Definition • Smart Card Technology: • Goes a step beyond magnetic stripe cards • Can hold up to 100 kilobytes of data • Can perform complex calculations • Provides a greater degree of security • May replace E-cash, which has not been too successful

  6. Types of Chips on a Smart Card • Memory only • Microprocessor • Has many advantages

  7. Advantages of Microproccessor Chips • Use EEPROM (electronically erasable programmable Read-Only Memory) • Can add, delete, manipulate data on chip • Holds data when removed from external power • Math co-processors • Execute complex transactions • Execute complex encryption codes • Customers can choose features to use

  8. Levels of Functionality • Single function cards • Memory only, limited use • One Application stored in ROM • Examples (Phone Card, Retailer Card) • Multi-function cards • Operating system allows many applications • Avoid “purse and wallet bulge” • Easily download new applications • Cost $3.79 vs. 47 cents

  9. Contact and Non-Contact cards • Contact module button • Reader Devices • Contact: contacts the contact pad button • Non-Contact: receives antennae signals

  10. Development of Smart Card Technology • History • Timeline

  11. Smart Card Demographics

  12. Demographics cont… • U.S has only 6% of market share • 5000 types of issued Smart Cards now • 17.8 million world wide users • Older vs. younger consumer profile • 60% of potential users respond non-favorably to multi-application cards • Due mainly to privacy issues

  13. How Different Economies Use Smart Cards • Asia Pacific • Europe • United States

  14. Asia Pacific • Overview • Examples in Japan • Examples in Hong Kong

  15. Europe • Overview • Examples

  16. United States • Overview • Examples • Conclusion for Use in Different Economies

  17. Possible New Uses on the Horizon • Mobile e-commerce • Credit card phone • All in one ID card with multi-application bank cards • Day in the life of a future PSU student - 2010

  18. Pros and Cons of Smart Card Use • Benefits • Objections • Should U.S. make move to use Smart Cards more ?

  19. Analysis & Conclusion • To increase usage in the U.S.the Smart Card industry should: • Educate consumers about advantages • Set protocols with various institutions • Set open platform standards • And the most important…

  20. The Smart Card industry mustset standards ensuring privacy of personal data collected • This way the U.S. consumer will not feel “Big Brother” is watching

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