There are will be a new credit card called "Smart Card"

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I heard there will be a new credit card called "smart card". Whether it is called credit card or not, or it can be a debit card connected to your checking account. Anyway, this new technology financial card called "Smart card"; it has two button and a magnetic strip on the back. One button will be selected to be credit usage; while another is debit usage. It all depends your shopping habit and your paying habits. So, it will be convenient to us, I guess. What do you think of it?