The Green Sheet Online Edition
January 14, 2008 • Issue 08:01:01
In Mumbai, Atom Technologies, the digital arm of Financial Technologies, is making it possible to shop online optically. Instead of typing in numbers of credit or debit cards, Atom Cards are activated by a wave of the phone.
The Java-based mobile application works by placing the mobile phone in front of a webcam. A digital image of the card is captured and, within a few seconds, the transaction takes place.
The application is secured with a unique customer identification and PIN code provided by the customer's bank. Merchants can also request remote transaction and feed in the customer's user ID or mobile number to make a payment request.
Atom Cards is expected to hit the global market in April 2008.
#h4 ISQ-Q test
Which of these statements is true?
1. The rise in radio frequency identification smart card technology in China (38% of the global market) is due to a spike in delivery of contactless national identification cards prior to the Olympics in Beijing.
2. A recent survey shows 64% of consumers would be more inclined to use cash if it had glow-in-the-dark pigments for easier access in poorly lit places.
3. Manufacturers are looking into producing credit and debit cards that use an alternative to plastic in an effort to be more eco-friendly.
How can you double your money?
By folding it in half.
#h4 Biz bytes
A capital account is the sum of a company's capital at a particular time.
Capital allowance is the tax advantage a company is granted for money it spends on fixed assets.
#h4 Loopy laws
Stick to handshakes when greeting someone in New York to avoid arrest. It is considered disorderly conduct to place the end of your thumb against the tip of your nose and wiggle the extended fingers of that hand to say hello.
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