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Bet you hadn’t thought of this..

Petroleum companies are leveraging their billing relationship with customers (via gas cards, etc.) to become banking and credit institutions on a much grander scale. And they are actually pioneering electronic currency with devices like the SpeedPass.

Here’s what it looks like: http://www.speedpass.com/how/technology.jsp

Imagine just waving your SpeedPass at a cash register as you walk out the door of a department store, after it scans the electronic tags attached to the clothing you’re purchasing. You stop, a screen displays what it has found in your shopping bag, and you wave your credit dongle at a panel and off you go.

Pretty cool. Awesome for drive-thrus.

-Ian.

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