3 credit-card technologies you need to know about now

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In a world where people are busier than they’ve ever been, keeping track of all the credit cards you may have can be rather inconvenient. And if you’ve ever found yourself fishing through your wallet for a specific card, or digging through your bag at the cash register of the grocery store with a long line behind you, you know just how frustrating locating this simple piece of plastic can sometimes be. Fortunately, new technology is making the process of using and managing your credit cards faster, easier, and more satisfying. Here are three time-saving credit card technologies to lower your stress levels.


Mobile wallets

Those looking for even greater convenience should check out mobile wallets, which allow you to make credit card purchases directly from an app on your phone.

Enabled by near field communication (NFC) technology, mobile wallet apps link the secure credit card information stored in your phone to the connected point-of-sale devices used at the register of most retail stores. All you have to do to make a purchase is to open the app containing your credit card information and move it close to the sales terminal. Though mobile wallet apps are frequently provided by your personal bank, many of them are capable of integrating your loyalty cards, as well.

Even better, you can even use the app to manage your finances by tracking your spending and signing up for purchase notifications and digitized receipts. You can also use these apps to store data on your phone, which improves the mobile shopping experience and helps you to make smarter spending decisions. For example, mobile wallets use auto fill to save you the time of punching in your credit card information every time you make an online purchase. 

Internet of Things

Once a novelty, connected devices are everywhere today and being used for almost everything in our daily lives— from entertainment to navigation to task reminders. But now they can also help you keep track of your finances. Capital One has teamed up with Amazon to introduce theCapital One Skill for Alexa, which gives Capital One customers the ability to make payments and get financial information just by speaking to the device. It brings convenience to another level, which is the very purpose of technology.

Fingerprint scanners

This might come as a surprise, but companies are already testing tools that would allow you to make a credit card purchase just by running your hand through a scanner. Using some of the same technology that allows you to open your smartphone without putting in a password, these scanners would tie your fingerprints to the cards registered in your name.

For now, credit card fingerprint scanners remain a long ways away from mass production, but experiments being run today represent an exciting possibility for the future.

In just a few short years, the credit card has gone from a simple piece of plastic to a dynamic, connected technology that has made the shopping experience a whole lot easier. And they're only set to get faster, more intelligent, and more secure.

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