SPRINGFIELD, Mass. (WWLP) – It might seem like science fiction now, but in 25 years, we could call it a convenience. New technology is in the works that would essentially eliminate your need for a wallet.
Kelley Dufault of Wilbraham said, “I think it’s pretty cool that it’s progressing so fast, but also I kind of like having control; having my credit card being able to swipe it.”
Price tags are already being tested with Radio Frequency Identification, or RFID technology. That would allow you, the shopper, to simply put your items in a bag and walk out.
When you walk out of a store, sensors would scan the price tag which would send a frequency to your digital wallet on your smart phone. The payment would be made before you even got back to your car.
One shopper told 22News he fear the risks of this new technology. “If the power goes out what happens? Can’t spend; can’t buy? I think everyone likes the real cash right in their hands. They know what they have and they know what they have to spend,” said Bob Tabin of Holyoke.
Retina scans and facial recognition are already being tested. Margarita Otero of Springfield resident said she looks forward to the changes. “It’ll make the process faster; stores won’t be as packed as usual. Everybody just gets what they want and out they go. It would be very convenient.”
MasterCard has already taken it a step further. They’re exploring a chip that would be implanted under your skin. Each chip has an antenna and a unique ID number. A simple swipe of a finger would be a personal identifier and payment mechanism all in one.
The chip is partly being tested as a way to stop identity fraud. Each year consumers lose about 5-billion dollars to identity thieves.