A man volunteered to have a chip inserted under his skin, and another showed off how to make payments using his chip insert.
On Monday, Edgar Pons was inserted an RFID chip live on stage at the Mobile World Congress organized by Sabadell Bank. At the same event, a man named Pau who already had an implant showed the audience how payments were made just by scanning the chip using his smartphone.
Sabadell financial services manager, Anna Puigoriol, said in the conference that this technology could be the future of payments.
RFID chips are under-skin chip implants, or more technically, subcutaneous chip implants. Banks are currently picking up on this latest trend. It’s a technology that seems to be revolutionizing the payments industry in Europe — and may soon come to China, Hong Kong, Singapore, and Australia.
Moreover, physicist and aerospace engineer, Alex Rodriguez Vitello noted that “the chip is the size of a grain of sand and it’s covered in a material that is biocompatible, so our body doesn’t degrade it over time.” Inputting chips that aren’t biocompatible compels the body’s immune system to register the chips as a foreign threat and try to damage them.
This technology that the chips run on, either radio frequency identification (RFID) or near field communication (NFC), are already being used at vendor portals and point of sale (POS) terminals across the world.
This chip implant is the same technology that allows you to use Apple Pay or Samsung Pay at more technologically inclined outlets today. Banks are considering its deployment and presume this as practical and quite cost-effective.
As of now, RFIDs are mostly used in other everyday life tools such as cars, work ID cards, and other places that need identity verification for access and passage.
According to CNBC, Edgar Pons wanted to have a Radio Frequency Identification (RFID) Chip implanted that would serve as his key for entering his automatic house. Most automatic homes need coded chips to be scanned rather than keys inserted in holes to open them up.
Pons said that “it is super, for me, very useful, because I have an automatic house,” he said, adding he was further motivated by the fact he could “withdraw it very easily, simply making a little cut and pressing it”.
Local media reports that more than 4,000 Swedish nationals opted to get subcutaneous chip implants, as did several hundred Germans.
They’re impressed with these chips because they’re more secure than their phones. Mainly because physical access is required to their digital homes, offices, and even their connected cars.