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one card to rule them all, one card to find them, one card to bring them all and in the darkness bind them.
Right now, inside your wallet, you probably have a couple of credit cards, an ID card, an ATM card and maybe a few other plastic cards. Without our realizing it, these plastic cards have become a very important part of our life. consider a few scenarios where we use plastic cards these days:  To identify ourselves To obtain cash from the banks As credit cards Conventional telephony Access control Loyalty programs Most of these plastic cards are usually magnetic stripe cards. In spite of their tremendous popularity, magnetic stripe cards suffer from one crucial weakness. Data stored on them can be easily read and modified by someone with access to the right kind of equipment. As a result, confidential information like PIN number or a password can not be stored on them and transaction host (POS device/ATM) will have to go online to verify the pin and this in most European and Asian countries is time comsuming and costly.
ENTER SMART CARDs. The developement of smart cards along with rapid advances in cryptography has resulted in a solution to the above-mentioned problem. |
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