Tips, News and Advice from Credit Card Assist

iPhone Hack for Credit Card Payments

by on August 10, 2011

Yes, there is even an app for that.  You know your iPhone can do far more than make and take calls, but did you know it can be used to help you keep your credit card information safe at stores?  New technology may allow you to use your phone rather than your card to make purchases.

NFC, or near field communication, is the source of this safer means of transmitting data.  Currently, most credit cards use RFID, radio-frequency identification, to send data from your card to a merchant’s receivers.  However, RFID signal can be read for a few meters.  NFC is limited to a range of about 10 centimeters.  This helps keep your data safer from trolling hackers.

Google Wallet (using NFC) for Android phones will soon be out and the iPhone 5 may have this technology built in to the platform.  Many point-of-sale companies are hard at work outfitting their terminals to work with this frequency.  Soon, you will be able to pay by tapping your phone to the terminal.  It will be more convenient and keep your personal information a little closer to home.

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