In reply to inthebiz.

I agree on the unclear, and so all we are doing at the moment is postulating our own theories.

I agree that it might not be as 'foolproof' or 'secure' as they imply it to be, but I believe it will be "more secure" than using a magstripe. They are using 3-D Secure and EMV based data keys, that is also a far sight better than status quo magstripe or most NFC offerings. I'd have to rewatch the keynote to see exactly how it was stated though, to see whether it is what they said or what we are interpreting what they said.

If anything, I was kinda hoping this would be a full on EMV based implementation.