Credit cards have been evolving over the years, embracing new technology and even inventing new technology. You might be surprised at the innovations on the market now for credit card tech. I am going to highlight the best new credit card tech of the last few years here.

credit card technology

“Tap and Go” technology. With this tech you simply tap your card on the reader at the reader, avoiding the need to swipe the magnetic strip on your card or provide your signature. Makes checking out a breeze, in a split second your on your way, without needing to wade through all the options on those annoying card readers such as cash back options. No need to fumble with cash or wait for change. This tech can be used via contactless enabled phone, card, key fob or mobile payment tag at any contactless accepting merchant. The amount of merchants offering this method is increasing. You are also secured with this technology thanks to Encryption technology. The card has a computer chip and antenna built in to it with built in security features.

Loop Technology. This is a virtual wallet on your smartphone, which stores your credit cards in a wallet directly on your smart phone. You can make payments directly with your smart phone. It includes a protector that wraps around your smart phone which communicates with the needed payment machines and processors. Simply place the smart phone or key fob near the credit card reader than select the digital credit card you desire to pay for your transaction with, then press the loop button and your transaction is now complete. No more need to stuff your wallet or purse full of plastic debit and credit cards.

Tokenization. This is more of a security feature, not something you are going to see. Tokenization encrypts your data to a token, if this token is somehow intercepted or stolen while on route to a payment processor, it is worthless, as it can only be read for the transaction you just authorized. Only the merchant can convert the token into readable form.

Ondot is another new innovation, and this will help stop a thief in their tracks. It is basically a remote control for your credit card, and it controls where and when your cards can be used. You can program these cards to only work in a certain set of zip codes or only so far away from your smartphone if the smartphone has built in GPS which nearly all do. If the thief wanders away from your smart phone, which he will, the credit card is then useless. You can also block certain stores or store types. Parents have been making extensive use of this card for their children, and employers are also making extensive use of this type of credit card, enabling only the stores and services needed by the business to work on the card.

Chip and PIN Technology, recently and finally making headway in the United States has been around in Europe and South America for a few years. New credit cards are featuring a square golden chip embedded in them. It is an EMV chip. Thieves cannot steal your credit card data with card readers, and a PIN code is required to make purchases. Using this tech, it makes it almost impossible to steal your info via a scanner or card reader and make an illegal clone copy of your credit card. This technology is making manufacturing a fake credit card in your name a thing of the past, and making credit card scanners the thieves and criminals have been employing a thing of the past.

Coin. This is the card of all cards, the tech of all tech for credit cards. A single card that stores all of your credit cards in one, basically an all in one credit card. It debuted in 2013, and it is also connected to your smartphone if you have one. Coin can detect fraudulent activity on your account the moment that it happens, before the stolen data is even used. It is swiped just like a credit card but you have the option of deciding which stored credit card to use when swiping the device. More information can be found at

Credit card tech will continue to adapt to our ever changing world rest assured. To keep up to date on all credit card news as well as the latest credit card offers make sure to stop by often.

This article was written by Steven Moore, who has been covering consumer finance and the credit card markets since 2006. You can learn more and connect at his Google+ page.