Shinhan Bank has partnered with Visa to create the worlds first USB credit card. The USB credit card hangs on a lanyard and can be inserted into new payment terminals in retail stores. The usb card can also be used to pay for online purchases by inserting the card into a PC, it is also be used for the countries vast public transportation networks. The cards information is protected so it can not be used as a usb storage drive.
The card seems to be aimed at the younger generation of Koreans as it does not offer any significant benefits compared to current credit cards. Wireless RFID credit cards are already common place and even RFID banking chips carried in cell phones are in frequent use.
The main attraction seems to be the style of the device. Since cell phone charms and other accessories are extremely popular with Korean youth it seems Shinhan is targeting youths fashionable senses rather then their practical ones. The personal computer payment option may be an attractive feature to the millions of Koreans who subscribe to online games.
