[QUOTE=Wombler;2646103]Fair play to Google for admitting that. I just find it surprising that all the supposedly security conscious financial institutions are so keen on ploughing ahead with NFC based payment systems when all these concerns have already been raised.
Not many credit card issuers and banks are very enthusiastic and cooperative. The NFC Forum has been publishing a lot of news and announcements and trials, but the Isis project started by the joint venture of the same name among AT&T, Verizon Wireless, and T-Mobile USA has been slow and delayed. What will be provided in Austin of Texas and Salt Lake City of Utah is trial service only. Google started Google Wallet, but extremely few handset, or smartphone, models and extremely few telecommmunication service providers support it. Not many banks, not many credit cards, either. What is worse is that very few offline retailers have the necessary NFC readers on site.
Some of those delays and hesitancy to adopt NFC are due to security concerns whether the threats are serious or not, or real or not.