The Chipknip

chipknip cardRemember the marketing campaign for the “high-tech” American Express Blue credit card? The problem was that you really can’t improve much on a credit card, and making it clear and adding a useless microchip didn’t do much to impress. Perhaps though, American Express really was ahead of its time. They have that microchip in the Netherlands, but it actually has a use. Dutch innovation week continues with: the Chipknip.
chipknip cardThe Chipnikp is a way to build a debt card into a bank card, but with wider acceptability. Next to the ATM there is a Chipknip machine where you can transfer funds into your Chipknip account. Then your bank card works just like cash.
The Chipknip is better than a US debit card in two important ways. First, it really does work like cash. It’s extremely fast and there are no receipts to sign. If you don’t have a bank account you can buy a pre-paid card to use, so the technology is accessible to even those with bad credit (or people like me who are just passing through and don’t want to open a bank account). Second, the Chipknip can be used for all kinds of little day to day purchases. You can get a Coke from the Coke machine, pay a parking meter, and buy groceries with one simple card.