Sadly, you can read magstripe data via NFC with today's contactless cards. I've seen apps do it on the Google Play store today. See section 5.1 on page 7 here:

Sadly, you can read magstripe data via NFC with today's contactless cards. I've seen apps do it on the Google Play store today. See section 5.1 on page 7 here: http://0b4af6cdc2f0c5998459-c0245c5c937c5dedcca3f1764ecc9b2f.r43.cf2.rackcdn.com/12055-woot13-roland.pdf http://0b4af6cdc2f0c5998459-c0245c5c937c5dedcca3f1764ecc9b2f... Note though, replay attacks require downgrading the card and suggesting it's not actually EMV-secured. And um, it appears all you need is a cell phone to clone one card onto another, if I'm really reading this right? No wonder we need EMV or stronger, Apple Pay protections. Frankly, the way I see it, we can't move fast enough to one-time use card numbers, however we achieve it... then I suppose more fraud will attack the next weakest point, perhaps passwords or IT systems.