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  Technology   In Other news  24 Jul 2017  Microchip implant allows faster payments, says US based company

Microchip implant allows faster payments, says US based company

DECCAN CHRONICLE
Published : Jul 24, 2017, 10:12 pm IST
Updated : Jul 24, 2017, 10:12 pm IST

The process works similarly to other phone payment which we see these days.

In addition to quicker payments, the microchip implanted into the hand also has a series of other benefits.
 In addition to quicker payments, the microchip implanted into the hand also has a series of other benefits.

We have often envisioned about living in the future. It seems now that an US-based company has just proved that we are living in the future. They have started implanting microchips in its employees with the idea of making payments faster and a host of other features.

Three Square Market CEO Todd Westby stated an interview with KSTP that the microchips could replace phone payment systems or credit cards because persons who have such a thing implanted into their hands can easily authorize a payment at a supermarket by simply having the hand scanned.

The process works similarly to other phone payment which we see these days. Westby has stated that the chip takes just a few minutes to implant between the thumb and the forefinger.

"We'll come up, scan the item. We'll hit pay with a credit card, and it's asking to swipe my proximity payment now. I'll hold my hand up, just like my cell phone, and it'll pay for my product,” the CEO explained.

In addition to quicker payments, the microchip implanted into the hand also has a series of other benefits like quickly logging into computers or granting access to specific areas of a building as each chip can be reassigned to a specific access level.

The microchip costs $300 and majority of employees are eager to have them implanted despite the obvious risks, which include GPS monitoring.

The company’s CEO swears that no tracking would be made, though it’s not clear if the chips themselves allow such a feature. And if they do, it’s not hard to imagine how easy it could be to hack into someone’s chip and monitor every single step he makes 24/7.

But as of now, no employee is required to get the chip implant and only those who agree with it will get the whole thing, but as mentioned earlier, it looks like everyone is super-excited with this idea.

Tags: microchip, three square market, phone payment