A few days ago I wrote about my interest in the NFC chip embedded MicroSD card being developed by @moneto_me for Android and Iphone, since my new phone doesn’t come with an internal NFC chip, which you can read about here. I’ve always been fascinated with the PayPass system in place with MasterCard, EZ-Pass, and going way back to Speedpass at Mobil gas stations, as early as 1997. I was hoping that my new phone would have the NFC chip already, but it wasn’t a deal breaker, especially since Moneto had their microSD card in the works. I’d much rather tap my phone, which I’m already carrying anyways, on the reader, than pull out my wallet and swipe my plastic card.
Google has recently started pushing its Google Wallet software, first introduced in May 2011, but many wireless companies had their hesitations allowing this software on their mobile devices, out of security concerns. Sprint is the only one of the major companies to allow Google Wallet. Verizon actually blocked the app from the GNex.
As it turns out, Google Wallet has a major security flaw in which if someone gets a hold of your phone, they can request a new PIN Number just by hitting the reset button on Google Wallet, which I read this morning on Mashable.com. Until Google sends a security update, and the technology is more secure, I think I’m going to hold off. I’m in no way accusing Moneto of having the same flaw, but I’m not taking my chances just yet.
If you have NFC and are using it, and think I’m just being paranoid, please let me know. Until then, I guess I’ll be swiping a little bit longer.