Dave makes a good case here for Banks to lever their investment in chip to support new revenue. 

“So if the bank sends me a simple USB smart card reader so that I can log on with my chip and PIN card, that’s convenient.

But the bank could then store either more key pairs, or more certificates, on the smart card and charge other organisation’s (e.g., the government, retailers) for using them. This makes solving the phishing and fraud problem a line of business rather than a cost and, surely, that’s a way to get something done.   

…  the bank might be able to sell several certificates to the same person and it might also be able to sell chip and PIN cards to people for them to use purely for log on and not for payment at all.

Now that’s what I call a disruptive technology!”

Source: “Digital Identity: That whole trust thing – Mozilla Firefox (Build 2006072814)”

The challenge would be in the software management, which isn’t Bank’s core competence.  If that aspect could be outsourced, there might just be a model here.

tags: chip+cards, business+models