Dezign Darling
Random musings from moi about fashion, pop culture, food and design.
Mobile Money
Categories: Graphix, Random, TV / Film

When I first heard about this sort of thing that Japan had a couple years ago, I was in awe and wished we could also have this technology. I thought it was cool, and undoubtedly it would make life that little bit more convenient. But now that it’s here, and some mobile companies are gearing up to launch new mobiles with NFC, and lots of major retailers are preparing to accept it, suddenly it seems a tiny bit scary. But the thing is, it’s already been done elsewhere; namely, in Japan, and also South Korea. Those guys are lucky in terms of the technology they have access to. Until now this sort of thing was just something we could dream of.

How does it work? Well the magic connecting your bank account to your mobile is called Near Field Communication (NFC) technology, and basically it’s a chip within your mobile phone which is connected to your account (debit or credit card), with a maximum spend of £15. So instead of swiping your credit card to pay for things, (as shown in that Barclays advert where a man zooms through shops and swipes his card to pay for things he grabs) you simply swipe your mobile across a contactless pay point. This is taking it to a whole new level and raising the bar. Sure it could lighten your wallet, and make getting ready in the morning faster, but just how safe is it? And as it’s also combined into your mobile; kinda makes you a better target than your neighbour whose mobile isn’t connected to his money. Ok so we can buy things now online via our smartphones, but you need to input details of the card your paying with either each time or once and saved your details. With an NFC mobile, even though the money is capped at just £15 each time you buy something, to me it still doesn’t quite feel that secure. Because although banks are talking about NFC enabled mobiles with PIN, that means anybody can just take your mobile and have a free lunch – on you. Essentially, it’s a hackers paradise dream come true.

While it might seem like a genius idea to save time and make payment more convenient, I worry about the security of my money that’s that accessible on my mobile. Rumour has it this idea will be launched THIS summer! And by big companies like Orange, Samsung, Mastercard and Visa amongst others.

Here is an awesome short demo explaining how it could help make life that much easier.

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