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Google Wallet Stores Card Data In Plain Text
nut writes "The much-hyped payment application from Google on Android has been examined by viaForensics and appears to store some cardholder data in plaintext. Google wallet is the first real payment system to use NFC on Android. Version 2 of the PCI DSS (the current standard) mandates the encryption of transmitted cardholder data encourages strong encryption for its storage. viaForensics suggest that the data stored in plain text might be sufficient to allow social engineering to obtain a credit card number."
That's what Apple tells its users when they ask why it wasn't on the iPhone 4S. The one with the tiny screen. And no 4G. Thankfully all that will change next summer when it will of course be trumpeted as a fantastic innovation on the iPhone5 and Apple can begin the busy work of suing everyone else copying their work.
Actually NFC is even funnier than that - they way the rollout is going you'll soon have checkouts offering "Fast Phone Payments" or however they spin it, so those with the right equipment (cough!) can zip past those standing in line next to them at the regular checkout with their fingers in their ears going "la la la la don't need that la la la pretend we're outside an Apple store la la la".