Citibank has come out with what looks like an ordinary keychain with a small  flashlights, but its just the look of it.. it performs a lot more.

It is an RFID MasterCard. The little plastic chunk contains an RFID chip that replaces the magnetic strip found on credit cards, allowing you to simply get close to a retailer’s reader to make your payment. No swiping needed. No signature needed.

The security issues involved have been discussed ad nauseum, like thieves sporting mobile RFID readers (which will intercept your data, allowing them to create duplicate tags, etc.), but many are saying that this is no less secure than a conventional MasterCard.

 

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