The device will look like a fashionable necklace for women or simply a gold chain around the neck for men. 10,000 volts are instantly activated from a small power source (at milli-amperage levels). This causes sudden and excruciating pain for the wearers until they stop spending. Yes, I borrowed this idea from a Star Trek episode, but aren’t all the best ideas from Star Trek?
Is the Financial Shock Collar a severe and dangerous tool to use? You are correct that this is a ludicrously rigid tool, but given some folks’ ability to lose their minds when it comes to: completely.
This may be a proper “last hope” type of device.
Self-Destructing Debit/Credit Card
Don’t like my shock collar idea? A much less severe idea (depending on how you look at it) would be the self-destructing debit/credit card. Given most new cards come with a great deal of “smart card” technologies, this one may be simpler to carry out (and much more fun to watch). It might apply to Apple Pay or other similar systems.
The concept is simple. Suppose the consumer attempts to use the card by either swiping it or “tapping” it. In that case, the card receives a simple message destruct, and the card emits a high-pitched alarm sound, and 5 seconds later, the card explodes, with a small charge embedded in it, when it was manufactured.
This makes the whole scenario of the credit card company rejecting a purchase and asking the vendor to seize the card a much simpler design, making stolen cards much more lethal for the thieves as well.
Sure, there will be occasional glitches where cards may self-destruct without warning. Still, those minor glitches and maiming of their owners are assumable risks for those who wish to have the privilege of carrying a credit card.
An added side-effect might be fewer people wanting to carry credit cards around, for fear of the occasional random self-destruction. Think of someone carrying around 6-8 credit cards. What might happen if one goes off accidentally? The chain effect might well be the destruction of the owner.
As I think of them, more attractive new “outside of the box” (unless the box is a coffin) ideas for financial safety may come.