In a decade's time, Bishop predicted an "electronic nose" would be able to detect the pheromones that make up individuals' scent, and could even be used as a "hacker-proof" security system, replacing pin numbers and passwords.

CNN: Phones will soon be able to smell

Security concerns have led many places in Europe to accept only chip-and-pin credit cards, which causes trouble for travellers with magnetic-stripe cards.

BBC: How credit card-friendly is your next destination?

Missing from the often-cited standards are specific references to many technologies that the security industry has long been pushing card companies to adopt: EMV (Chip and PIN), End-to-End (E2E) encryption, tokenization and virtualization.

FORBES: Payment Card Industry Punts On Key Security Questions