Originally Posted by six_storm
A big "BFD" on the NFC stuff.
NFC is actually pretty neat in that it's way more secure than a credit card:
- You don't need to hand it to anybody, so there is no chance of copying numbers
- Every time the transaction is performed, the exchange is done with one time credentials, so there is no chance of a replay attack (which both credit and debit are susceptible to because they always use the same numbers)
- If somebody steals your phone, they still need to know your pin (which must be entered upon every transaction) or else they can't spend your money.
- You don't enter your pin at any kind of point of sale terminal, so there's no chance of somebody recording your pin.
I've used it once, it's pretty convenient. With the sprint nexus google gives you $50 in free spending money.