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Most PoS systems in the U.S. are being updated to read chipped cards for the big EMV-related liability shift[1], anyway, so it makes sense to add NFC while they
by twoodfin 12y ago
Most PoS systems in the U.S. are being updated to read chipped cards for the big EMV-related liability shift[1], anyway, so it makes sense to add NFC while they're at it.
[1] http://m.us.wsj.com/articles/BL-234B-3681 http://m.us.wsj.com/articles/BL-234B-3681
- toomuchtodo 12y agoIsn't NFC much less secure though than chip and pin?
- ZenoArrow 12y agoYes it is. It's possible to charge contactless payment cards even when they're in someone's wallet. That said, it is certainly possible for the implementation to be more secure on smartphones. I knew as soon as I saw the fingerprint scanner and iBeacon tech in the current iPhones that this is what Apple would be aiming for.
- threeseed 12y agoThat is why in most countries (I can't speak for the US) they cap the maximum withdraw limit to something like $100. That way the risk to the bank and consumer is minimal. Here in Australia our largest bank (Commonwealth Bank) has an app that will generate a code that you can enter into the ATM to make a withdrawal i.e. card not required. It has a similar risk profile to NFC.
- nwh 12y agoPity the code is so long it's easier just to use your card.