Sounds like a great concept, but only if it allows for competition. All credit card issuers should be able to use this technology. Not just Discover Card. One standard should exist in order to be able to implement all the necessary security features. If they all come out with their own technology and standards security will quick become a major concern.
Smartphones May Soon Replace Credit Cards
See this Amp at http://amplify.com/u/aoi5e
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