Card.io Uses an iPhone's Camera to Read Credit Cards
eeek
The only thing this does, as far as I've seen, is take a picture of the front of the card and then read the number off of the picture, and relay that number to the software which runs the card. It just takes away a few steps and makes it so you don't have to manually put in a number to process the payment.
When you swipe your card at a store, that stores system records your credit card information. Otherwise they won't get paid. On your receipt it shows (depending on the store) just the last 4 digits of your card number but in their system the whole number is showed and stored.
Credit card are far too insecure nowadays, well, that and many consumers are not careful enough of where they show it or such. Now taking a photo of my card with a phone to process payment, I seriously do not know about that....
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I dunno about all this crazy stuff either....hence why I went back to a dumbphone haha. In most parts of asia and europe, they've already had technology like this for a long time. Most people in korea don't even carry wallets.
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