Citibank is about to roll out a flashy new version of the humble credit card equipped with a micro-engine allowing users to redeem their accumulated rewards points and potentially get their purchase for "free" anytime they swipe. Other card issuers are following suit, reports The New York Times, creating "newfangled" credit cards that feature batteries, lights, and "fraud protections baked right into the plastic." Will these 2G cards make life easier for consumers?
Everyone wins: This is "an idea whose time has come," says Dennis Moroney, a payments consultant quoted by Wallet Pop. Allowing consumers to pay with rewards points makes life easier both for them and for banks who "get the value of all those accrued points off their books." Other "high-tech" features could have "significant security benefits" — which are long overdue here in the U.S.
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