14 DAY TRIAL // Some features sometimes need to become popular before the so-called “governing” body approves of them for mass consumption, and this seems to have happened to NFC-based payments.
The SD Association, the standardization body for SD cards, has announced a new specification for microSD/smartSD cards.
SmartSD is a term used to describe a microSD memory card that uses the single wire protocol (SWP) as a Secure Element to enable NFC authorizations (near-field communication).
And by NFC authorizations we mean mobile payments, identity verification and anything else that can be accomplished by waving the phone in front of a terminal.
VISA and Device Fidelity already have something of the sort, to allow NFC payments via microSD cards.
The new specification from the SD Association turns the feature into a universal capability.
"Completing the enhancement to smartSD marks the achievement of a strategy announced in 2011 to find new markets that would benefit from SD standards," said Brian Kumagai, president of the SD Association.
"Adding smart‐chip technology to microSD memory cards gives SD equipped smart phones and phablets new consumer conveniences whether they're connected to the Internet or not. We know consumers want more flexibility to expand their storage needs, and a simple way to participate in a variety of value‐added services offered by a variety of companies and institutions today."
At some point, there may be no need for wallets or purses, or pouches of any sort. Everything will be payable with the phone, so money won't need to be physically present. That only leaves identification, and we dare say biometrics, face recognition, voice keys, and a myriad of other technologies can be used for that.
Sure, it will take a while for society to stop depending on paperwork, but it's only a matter of time. A long time most likely, but a matter of time nonetheless.
