>Getting Under the Skin
Just as those of us who focus on identity theft solutions have gotten over oohing and ah-ing about the possibilities that biometric technologies bring to the picture, a new kind of "protection" is hitting the news: a rice-sized transmitter surgically implanted in the arm. And one of the uses its maker is proposing is retail purchases connected to financial accounts.
The VeriChip device has already been implanted in about 30 people for a variety of purposes from kidnaping protection to identification badges and medical bracelets. Its maker, Applied Digital Solutions Inc. of Palm Beach, Florida, says it also holds the possibility of acting as a credit card or as a personal verification tool for access to financial accounts.
The chip, which is embedded in the upper arm using a local anesthetic, works by radio frequency. It is dormant until a scanner is passed over it, which activates the chip and releases a verification number.
Copyright © 2004 Bankers' Hotline. Originally appeared in Bankers' Hotline, Vol. 13, No. 10, 1/04
Privacy Policy Disclaimer Recommend This Site ! Contact Us
BankersOnline is a free service made possible by the generous support of our advertisers and sponsors. Advertisers and sponsors are not responsible for site content. Please help us keep BankersOnline FREE to all banking professionals. Support our advertisers and sponsors by clicking through to learn more about their products and services.
|
Print Friendly!
Email This Article!
Discuss NOW!