Posts Tagged ‘Contactless’

Merry Shopping

November 26, 2010 2 comments

If you were looking for an argument that would allow you to skip contactless cards and go straight to mobile payments, look no further.  It seems that enterprising people are really using RFID readers to steal credit card information as people walk by.

Here’s how RFID works: when the card reaches a certain distance from an electronic scanner or card reader, it sends a signal which is received by an antenna embedded into the card, which is connected to the card’s RFID chip, thus activating it.

Criminals are able to do the same by walking close to your wallet or purse. A hand held chip reading device can easily steal your credit card information if someone walks by you or inches close enough to you.

You can read more here.

Tech Buzz

Seems that Visa has officially announced their partnership with DeviceFidelity in turning your iPhone into a contactless credit card.  You can read more here at MobileCrunch.

In other news, Alex Payne, the lead engineer who lead in the creation of the Twitter API is leaving Twitter to go to BankSimple. If I were an online/mobile banking executive I’d be keeping a watchful eye on this company. Alex is one of the main reasons Twitter has exploded. Imagine what he can do with making banking that doesn’t suck. You can read more at ReadWriteWeb and TechCrunch.