Speaking at Mobile World Congress in Barcelona, Google exec Sundar Pichai confirmed that this would not be a new product for users, but an “API layer” that allows other companies to support secure payments on Android in both physical stores and via apps.
Check out this post from Lifehacker Every day, you hear about security flaws, viruses, and evil hacker gangs that could leave you destitute — or, worse, bring your country to its knees. But what’s the truth about these digital dangers? We asked computer security experts to separate the myths from the facts. Here’s what they... Read More
Jack Varnell's insight:
I’ve noticed a lot of nihilism in the media, security industry and general public since the Snowden docs came out. This generally expresses itself as people throwing up their hands and saying “there is nothing we can do to be safe”. While it’s true that there is little most people can do when facing a top-tier intelligence apparatus with the ability to rewrite hard drive firmware, this should not dissuade users from doing what they can to protect themselves from more likely threats and security professionals from building usable protections for realistic adversaries.
"It’s a payment vehicle. Paper money and credit cards are also payment vehicles. Some might say PayPal is a payment vehicle also, but the underlying payment vehicles that actually transmit funds for a transaction are ACH and/or a credit card. ACH stands for Automated Clearing House, which is an electronic banking transaction network that’s regulated by NACHA."
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