Good video to incorporate in your lesson regarding payment types.  In this three minute video, an industry expert reviews smart credit cards on CBS News while also providing a vision for the future of digital payments.

Key terms that come up in the video that students should be ready to define:

• Smart cards
• Apple Pay
• Security of smart cards
• Microchip technology
• “Chip and Pin”
• Two visions of how people will pay in the future

As with any new product, ask students to come up with pros/cons of smart cards and whether they think it will be a good product for them.

About the Author

Tim Ranzetta

Tim's saving habits started at seven when a neighbor with a broken hip gave him a dog walking job. Her recovery, which took almost a year, resulted in Tim getting to know the bank tellers quite well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies and helping families make better college financing decisions. After volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him to start a new non-profit, Next Gen Personal Finance.

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