... why we have our names on our Credit Cards and Debit Cards...
Well you've never lost your wallet then... or been involved in a larger transaction.
When I used to work retail, if the transaction came even close to $1k I always asked for photo ID (which would also server as an additional confirmation to the signature).
After watching the OP, his 'psychic paper' concept is intriguing, but the infrastructure to make use of it, and the 'backend' to host all of the content and frameworks present a much bigger security problem than the manner in which it's managed currently.