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Hands On with Moneto Secure NFC Payment microSD Card

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I don't get why NFC for credit cards is significant

pjpace

Jan 11, 2012, 1:33 PM
I cut my apart my PayPass contactless credit card (with the chip in it) years ago and shoved the little tiny chip in my phone battery compartment. My latest credit card I got last month came with a secondary tiny card (about 1” x0.5”) with a chip in it that was meant to be stuck on the back of your phone. So why spend $ for NFC? I guess there’s software you can use, but for contactless payment, seems like it’s a whole lot of something over nothing. Please tell me what I’m missing about NFC.
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KOL4420

Jan 12, 2012, 9:16 AM
The whole point of it is security through the Google Wallet Application. Also for those people who dont want to carry around a credit card or want to try something new. I have everything you have and I rarely even use it. However I do plan to use this system and my phone doesnt have NFC very excited to get me one of these. Very Happy
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Rich Brome

Jan 12, 2012, 5:23 PM
One is security. You can PIN-protect it so that other people can't just bump into you to steal money from you. You can also remotely lock it, so you're safe even if the phone is stolen.

Also, with Google Wallet and ISIS, you can have multiple cards in your phone and switch at any time using the apps. You can also put different types of cards like transit passes, etc. You can also add retailer loyalty cards and coupons. So if you shop at Gap and have a Gap card that gives you a discount, and you have a gap offer code/coupon, you can redeem all of that and pay all in one tap of your phone, and you don't have to carry any cards or coupons; just your phone.
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pjpace

Jan 16, 2012, 2:10 PM
I guess I could see some of those benefits. People bumping into you and stealing your info is possible but far fetched. Besides, CC companies give you 100% protection, so it's nice that you're concerned about them but it won't impact you. Same with locking remotely - you can call the CC company and have the card shut down.

Multiple cards would be nice though - my transit card and my CC and my work ID... all done away with? And I guess on the latter two locking it down quickly would be beneficial. It will be nice to see some implementation of this in the coming years. As is often the case with technology, the new ideas often times aren't great until they're more broadly implement (I can still only use my contactless CC at a few stores, and...
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