Skimming is the act of stealing the information off of a credit card. Previously, skimming required reading the data off the magnetic stripe on the card. This involved a secondary card reader either in an ATM or at a place of business. Now, the CBC in Canada says that with an Android app from Google Play, they were able to steal information off a credit card with a smart chip.Read More >
New technologies such as the EMV algorithm ("Chip and Pin") and NFC were supposed to make payment at the cash register more secure, but new research casts doubt on that.Read More >
By this summer, users of the Google Nexus S smartphone will be able to do all their shopping without ever opening their physical wallet—or so Google hopes.
The previously announced Google Wallet has gone into beta. Google predicts that by 2014 half of all smartphones will ship with NFC chips installed. They hope that Google Wallet will be on most if not all of them.Read More >
According to the Wall Street Journal, Google is working with Mastercard and CitiCorp to develop its contactless payment system for Android.Read More >