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Comment Re:Costs?!?? (Score 2) 193

Here in Toronto we have a road called the Gardiner Expressway. It's literally falling apart. We can't afford to fix it. We also can't afford to dismantle it. So it's becoming a more and more serious safety issue over the years. The point of my story is, just laying asphalt is too expensive, and these people want to upgrade to fancy cyber-roads?!

Comment Re:Doomed? They Were Never Viable. (Score 1) 272

This isn't applicable to your phone being remotely hacked. Only a trusted authority has access to the encryption keys necessary to read your SE. Their are functioning mobile wallets all over the world, and this sort of attack has never happened. The only major security threat that this opens you up to are what the industry call "ass tappers". I think you can guess what that means.

As for purchasing anonymously, you can't do that with your credit card either. Yet credit cards remain pretty popular.

Comment Re:Doomed? They Were Never Viable. (Score 1) 272

I agree that it's a solution in search of a problem. But the CC companies don't need to switch off of chip-and-pin to support mobile wallets. Have you noticed that you can tap a chipped credit card against the new generation of POS devices to pay? If you can do that, you can tap an NFC phone as well. Ever noticed how the chip in your credit card looks a lot like a SIM? Not a coincidence, it's the same underlying Smart Card tech.

And about the malicious entities, this really isn't as big a problem as what your picturing. A wallet app is really just a UI. All the meat goes into your Secure Element. Your card info gets put in remotely by a trusted authority, and is read directly off the chip by a POS. Apps on your phone don't have access to it.

Comment Re:WTF does it do for me? (Score 2) 272

Their was an idea floating around that people were more likely to leave their wallet at home than their phone. I'm not sure where that idea came from, it's always seemed unlikely to me. Retailers in a lot of cases are installing the new POSs that read a tap from a credit card. It's the same hardware to read a tap from a phone (both are NFC), so it doesn't cost them any extra. The tap-to-pay really is convenient for low value transactions (usually $50) because you don't need to enter a PIN.

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