The APS VeriChip is designed using subdermal RFID technology for cash and credit transactions. The idea is that a consumer is simply a number, this makes it easier for us to spend our money from place to place without too much hindrance by real human functions, and even less of an effort for those taking our hard earned cash.
Some day we may be able to walk into a store and be completely alone and not have to see a living person in sight, imagine walking out holding the items you want and being billed instantly just as you leave the store. No confrontations, no customer service, no cute check-out girl, isn’t our future grand.
To entice you more, APS is offering $50 Off to the First 100,000 registrants at the time of the their first “chipping” procedure.
See press release below.
APPLIED DIGITAL SOLUTIONS’ CEO ANNOUNCES “VERIPAY™” SECURE, SUBDERMAL SOLUTION FOR PAYMENT AND CREDIT TRANSACTIONS AT ID WORLD 2003 IN PARIS
Applied Digital Solutions, Inc., an advanced technology development company, announced that the Company’s Chief Executive Officer, Scott R. Silverman, in his speech today at the ID World 2003 in Paris, France, revealed the Company’s newest subdermal RFID solution called VeriPay™. VeriPay is intended to be a secure, subdermal RFID (radio frequency identification) payment technology for cash and credit transactions.
About the size of a grain of rice, VeriChip™ is the world’s first subdermal, radio frequency identification (RFID) microchip that can be used in a variety of security, financial, emergency identification and other applications.
The VeriPay announcement came just a few days after a USA Today article (November 17, 2003) about emerging technologies highlighted one of the major limitations of using RFID technology for payment and credit transactions. After discussing various potential formats for RFID payment systems, including cards, earrings or pens, the USA Today article stated: “Still, experts note that one big hurdle remains for RFID systems: security. Lose your RFID-enabled card or earring, and someone else could easily use it to run up charges – especially if no signature is required.”
In that same article, an executive with a major credit card company said this about his company’s RFID payment technology: “Ultimately, it could be embedded in anything – someday, maybe even under the skin.”
At ID World 2003 in Paris, Mr. Silverman made the point that the subdermal RFID VeriPay technology specifically addresses the security issue. VeriPay’s unique, under-the-skin format offers a much more secure, tamper-proof, and loss-proof solution. VeriPay brings to consumers the benefits of fast and reliable RFID technology along with the security of a subdermal format.
In announcing VeriPay to ID World delegates, Mr. Silverman expressed his belief that VeriPay has enormous marketplace potential and invited banking and credit companies to partner with VeriChip Corporation in developing specific commercial applications, beginning with appropriate pilot programs and other market tests, for the VeriPay subdermal RFID solution.