BMW develops credit card car key
It's a new barrier to easy credit - you have to own a BMW firstTiming is everything in life. Some will argue that with financial markets crashing to levels not seen since the Great Depression, now is not the appropriate time to announce a card that not only unlocks and starts your BMW, but can double as a credit card.
At the Carsales Network, we don't subscribe to that view. If you can afford a BMW, you can afford credit at any time -- and vice versa. What better accessory for your new Bimmer than AAA credit? Show them you've arrived, as you whip out your Euroexpress gold pass to pay the hangar fees for your corporate jet.
This new technology, developed by BMW Group Research and Technology, places a wireless security chip in a vehicle's key card. This chip can communicate across short distances with a card reader, opening up opportunities for the card to store banking data and other personal information.
BMW anticipates that the new development could be used to run other cars (such as BMW cars for hire) and debit the hire charge automatically from the user's account.
The key could potentially work like a PDA with added functionality, storing personal data and preferences like favourite radio stations, contact details for friends and colleagues or subscriptions to online content.
"With the concept of integrating a cashless payment function into a car key, we are working on ways of linking up vehicle technology and lifestyle," says Prof. Raymond Freymann, Director of BMW Group Research and Technology.
Research is ongoing and there's no timeframe as yet for the credit card key reaching production.
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