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The Future is Here: Contactless Payments Made By Microchips Implanted in Us

The Future is Here: Contactless Payments Made By Microchips Implanted in Us

Would you like to become your own contactless payment card?

A human cash card.

Part man/woman….part cash card.

You pay for a purchase by waving your hand over the contactless card machine.

If it sounds like something out of a cyborg, banking terminator film, it isn’t, it is technology that is here today, and people are using it; micro chips implanted in their hands that allow them to make contactless payments.

No excuse for not having your bank card or money on you when the bill comes around.

We know we are using cash less and less, and a cashless society is on its way, implanting microchips to make payments may be the next wave of contactless payments.

One positive aspect of a cashless society, no searching for an ATM or cash machine.

Human Cash Cards

There have been a few things/objects, turned into cashless payment conduits over the years.

We have mobile apps than can make payments, the obvious cash cards, even key ring fobs.

You can purchase just about everything and anything using a contactless payment card, even donate to the homeless and donate to buskers.

The only thing holding you back in making contactless payments are two things:

* You need your card with you.

* The maximum limit on purchases, which currently is £30.

Having your card with you is usually not an issue, as many of us try to know where are cash cards are at all times.

As for the maximum purchasing amount, in time once technology and security gets better, I’m sure this will increase.

One way to help with both this issues is to implant a chip inside someone that is their cash card. They will always have it with them, and the odds are very low it will be lost or stolen.

A company in Sweden have done just this, and for £150, 5,000 have already had the chip implanted.

The chips are about the size of a grain of rice, and with them implanted into your hand, there is little fear of going out without having access to our cash.

However, if you don’t wish to have a chip inserted into your hand, you can wear your cash card in the form of a “contactless payment jacket”.

Make payments for purchases and be fashionable at the same time.

Of course you may not always wear the jacket, so the implanted chip seems like a better way for those who lose things, and may not always wear a jacket.

Wearable tech is the latest thing, smart watches, glasses, bracelets, etc, so why not wearable cash cards.

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<strong>What is Our Criteria For Applying?</strong> 
Every lender on our website has their own specific criteria by the basics are mentioned below and you must have a guarantor to be eligible. Simply select the lender of your choice and you will be taken directly to their website where you can apply. You will be required to submit your details including:<li style=”text-align: center;” data-mce-style=”text-align: center;”>Name (must be over 18 as the borrow, 21 or 25 as the guarantor)</li><br /><li style=”text-align: center;” data-mce-style=”text-align: center;”>Residence (your chances will improve if your guarantor is a homeowner)</li><br /><li style=”text-align: center;” data-mce-style=”text-align: center;”>Employment status (must be employed or on a pension)</li><br /><li style=”text-align: center;” data-mce-style=”text-align: center;”>Income (earning at least £600 per month and able to make repayments)</li><br /><li style=”text-align: center;” data-mce-style=”text-align: center;”>Monthly expenses (not have too many loans open or in major debt)</li>
 
You will then be asked to include the details of your guarantor and as mentioned above, this is usually someone who you know and trust and wants to help you with your personal finances. Ideally, a guarantor with good credit will maximise your chances of being approved based on the idea of ‘if someone with good credit trusts you, well we can too.'<strong>How Much Can I Borrow From Guarantor Loans?</strong>Guarantor Loans gives applicants the chance to borrow £500 to £15,000 depending on the lender. Some lenders we feature like Buddy Loans only have a maximum loan value of £7,500 and TFS Loans is the only lender that stretches up to £15,000.Factors that can influence the amount you can borrow revolve around having a good guarantor. One that is a homeowner, with solid employment, income and good credit rating will maximise your chances of borrowing the largest drawdown possible.The lenders featured on Guarantor Loans see a homeowner as someone who has already gone through the rigorous process of credit checking and affordability and if they can afford a house, they should be able to act as a guarantor for you.By comparison, having a guarantor that is not a homeowner offers slightly less security and means that amount you can borrow is slightly less too.Higher amounts may be available to those who already have a better than average credit rating, are homeowners themselves and a repeat customer with the lender who has already paid their loan on time. To apply directly with your lender of choice see <a href=”https://www.paydaybadcredit.co.uk/direct-lender/” data-mce-href=”https://www.paydaybadcredit.co.uk/direct-lender/”>direct lenders</a>.<strong>What Does The Guarantor Have To Do?</strong>Upon completing an application, the lender will typically send you a <a href=”https://www.handbook.fca.org.uk/handbook/CONC/4/2.html” data-mce-href=”https://www.handbook.fca.org.uk/handbook/CONC/4/2.html”>pre-contract loan agreement</a> and SECCI (Standard European Consumer Credit Information form) which will highlight the terms of your loan. You and your guarantor will be required to review the terms of the loan, including the loan drawdown, fees, repayment dates and responsibilities – and this can be signed via an online verification process using your email and mobile phone.The lender will usually carry out an individual phone call with you and your guarantor to ensure that you both understand the responsibilities and what is required of you – notably that if you cannot make repayment, your guarantor will be required to pay on your behalf. Further to some additional credit and affordability checks, funds can typically be transferred within 24 to 48 hours (or sometimes on the same day).<strong>Are Guarantor Loans Available For Bad Credit Customers?</strong>Yes, even if you have a history of adverse credit, <a href=”https://www.gov.uk/county-court-judgments-ccj-for-debt” data-mce-href=”https://www.gov.uk/county-court-judgments-ccj-for-debt”>CCJs</a>, bankruptcy or IVAs several years ago, you can still be eligible. The idea is that you are using your guarantor and their financial history to ‘back you up’ and give your loan extra security. However, it is noted that your guarantor should have a good credit score and consent to co-signing your loan agreement.<strong>How Soon Can I Receive Funds?</strong>Guarantor Loans works with lenders that can facilitate funds within 24 to 48 hours of approval, or sometimes on the same day.When your funds are successfully transferred, most lenders working with Guarantor Loans will send the full amount to the guarantor’s debit account first. This is a standard security measure carried out by lenders to ensure that the funds are going to the right person and confirms the involvement of the guarantor. The guarantor usually has a ‘two week cooling off period’ where they can decide to pass on the money to the main borrower or they can change their mind and return the funds with no extra charges.