Nrbelex writes to mention a New York Times article about the privacy pitfalls of 'no-swipe' credit cards. Despite assurances from the card companies, researchers Tom Heydt-Benjamin and Kevin Fu were able to easily retrieve data from the new cards ... data available without encryption and in plain text. From the article: "They could skim and store the information from a card with a device the size of a couple of paperback books, which they cobbled together from readily available computer and radio components for $150. They say they could probably make another one even smaller and cheaper: about the size of a pack of gum for less than $50. And because the cards can be read even through a wallet or an item of clothing, the security of the information, the researchers say, is startlingly weak. 'Would you be comfortable wearing your name, your credit card number and your card expiration date on your T-shirt?' Mr. Heydt-Benjamin, a graduate student, asked."
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