Get ready for the next big app attack, urging you to chop up your credit cards and use your mobile phone. You won’t have to go to a shop, just point the phone at a handily-placed barcode, and you’ve paid! It’s not a phone, it’s a ‘smart wallet’, and your mobile banker skims off a bit of every transaction. Security? It’s a work in progress. Reporter, Stan Correy.
Further Information:
Reserve Bank of Australia Strategic Review of Innovation in the Payments System – (http://www.rba.gov.au/payments-system/reforms/strategic-review-innovation/submissions/201106-strategic-review-innovation/index.html#content)
Australian Payments Clearing Association (APCA) – (http://www.apca.com.au/)
EMV Co – (http://www.emvco.com/)
Ross Anderson, University of Cambridge – (http://www.cl.cam.ac.uk/~rja14/)
Dr Stephen J Murdoch, University of Cambridge – (http://www.cl.cam.ac.uk/~sjm217/)
Stephen Wilson – (http://lockstep.com.au/)
The most important mobile payment infographic ever (according to one payments magazine) – (http://www.mobilepaymentstoday.com/blog/6295/The-most-important-mobile-payment-infographic-Ever?rb=false)
Michael Yip – (http://www.michaelyip.me.uk/)
Infographic on underground economy – (http://www.michaelyip.me.uk/blog/2011/08/the-underground-economy-ecosystem/)
Adam Laurie, Aperture Labs – (http://aperturelabs.com/)
http://www.abc.net.au/rn/backgroundbriefing/stories/2011/3321865.htm