Oh most certainly. The potential for tracking is beyond current comprehension. If less than one decade we could easily be living in a society where your every move is tracked. Think about it. Your sneakers have a tag that tracks it through production and shipment. That tag, hence, those shoes, gets tied to your name through your credit card purchase. Those shoes’ tag then announces your presence and movement throughout any store with appropriately equipped scanners and purchased access to the above info. Very simple endeavor for startling tracking ability.
Actually I had already heard about this, and I want to make a Faraday cage using cloth for my credit cards. I might be paranoid, but the geek in me thinks it's just cool to work with metal encoded fabrics. I actually want to build a cage for my server next.