Hands-On: Ditching Cards and Cash for the Google Wallet App

With all the malware out on the Android Market, I wouldn't be surprised if someone developed something to side-step the NFC security. For example, a fake PIN screen to steal your NFC pin number and one that disables the whole "works only when the screen is on" feature. With some malware not rooting your device without your knowledge who knows what's possible - I'm going to hold off on this until it's thoroughly field tested by others. I'm still required to carry around ID and so credit cards will simply tag along for now.

While it seems cool to have all of your credit cards in one place -- remember this -- All of your credit info is accessible from one place!
(maybe it's not yet, but that's the agenda)

Right now, I can leave cards at home, or physically separate them, to maintain some security. With this system, if somebody gets your phone, they could probably do severe damage before you could notify your creditors.

At least they may have addressed one issue. The last nfc stuff that I read described the whole transaction as taking place through the nfc interface. I believe that this could be tapped. In this iteration, it seems that there will be some cell comm as well, which is good.

I still don't want one.

I'll wait a few years and see how this pans out. New technology is great, but those viruses and hackers are so expert in their evil deeds.

yeah never not ever. Your going to see this exploited days after its implemented. Thank you but i like to keep my money.

While the technology is innovative and has quite the 'cool factor' I agree with the commonsensical people here... not for me, as I do not trust the security of such devices/cards/chips/etc. Greenbacks remain in my wallet, with 1 or 2 credit cards for stuff that I need but may not have sufficient cash to get on the spot.

I'm curious (rhetorically speaking) just how far off we are from being so dependent on technology that we'll be unable to function when it all goes kerblooey...?

Can't wait for mine!
I already do all of my interactions with my debit card anyway. I hate change.
The idea that finally all of my receipts will be stored and available electronically instead of casually discarded will be a great help when traveling for my company.
Be prepared for the final demise of paper money, just like the end of the post office.
No, it won't happen any time soon, but eventually convenience and good old fashioned "What, me wait?" American mentality will prevail.
Almost everyone has a credit card in their wallet with a NFC already, if anything, this should be more secure.

I'm surprised that Google decided to partner with Sprint to unveil this technology though, you would think Google would use one of the much larger bases of AT&T or Verizon.
Oh well, I guess I'll just have to be patient and wait like 78% of all wireless users.

This honestly scares me, because as these technologies get more and more advanced, they are getting better and better at breaking into them. I won't be the person to say BANKING ONLINE IS ASKING TO GET YOUR INFORMATION STOLEN, but I will say that the very essence of money is changing. Money used to be a paper that you could actually turn in and get silver, and possibly (I have to brush up on my money studies) gold equal to the amount on the bill. THAT is why money worked, because it HAD value. Now that we are off the silver standard, money is just paper that the government prints.. Not to be the naysayer, but if something major such as a nuclear war does happen, what good is all of this going to be? I think we are setting ourselves on a peak that is very VERY nice whilst we are on it, but has literally no value..

Another thing I've always wondered, if someone knows please let me know so I can look into it more, is there physical money to back up all the "money" out there with credit card dept and loans and such? I don't honestly think that there is enough money to back up all the dept we have, which means eventually that is going to catch up, if it isn't already.

from this the beast(666) Will emerge. this combined with the microchip implant will have us controlled.

_________________
The people of the world only divide into two kinds, One sort with brains who hold no religion, The other with religion and no brain.

- Abu-al-Ala al-Marri

The main thing I don't like about electronic payments is how they collect information about you to try to sell you things later on. A company as an entity simply wants my money in order to sustain itself. I saw a documentary once that compared corporations to sociopaths. The whole thing just makes me uncomfortable.

I'm not worried about identity theft. All these things are just numbers in a computer. A widely accepted social construct. Someone stealing your numbers doesn't change who you are.

But, being considered a number within an equation that is ultimately defined as "me" really clashes with what I actually am.