There has been a lot of talk about the addition of an NFC chip to the next-gen iPhone. This will allow the phone to be used as a swipe-it-yourself credit card. I consider this technology to be the most onerous ever.
I first discussed the idea of your mobile phone becoming your credit card in the mid-1990s and was just biding my time before it came to pass. Bluetooth was invented in 1994 and gave rise to a lot of speculation regarding its usefulness. For a few years, all sorts of futuristic uses were imagined and a serious discussion of the so-called PAN began, but never went anywhere.
I'm immediately reminded of the online scams that took place during the modem era of communications. You'd be given a number to call, and it would actually be some sort of scam. The local number would connect to a BBS of some sort which would send a code back to the modem to turn off the speaker, so you couldn't hear the modem disconnect and then redial a number in Bulgaria or some obscure island. You'd then be connected to a phone service that charged $100/minute for the connection. After racking up thousands and thousand of dollars in phone costs, you'd get the bill from your phone company for $30,000. You'd bitterly complain about the bill—these stories were all over the news during this era—but the phone companies said they couldn't do anything about the charges. The rates were protected by some U.S. treaty scammed together by the phone companies and signed into law. There was nothing they could do! So, you had to pay or lose your phone service(cheap iPhone cases) and be sued in court.
This was unbelievable.I've always been convinced this was test marketing to show the banks and everyone that the phone companies were the best collection agencies and should be in charge of your credit card and other transactions. After all, you can stall the bank, and what can they really do, anyway? You stall the phone company and you are disconnected from the world.
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