Feeds

PayPal enables cash-by-slap

iPhones that go bump in the night

Top three mobile application threats

The latest version of PayPal's iPhone application allows users to transfer money by bumping their handsets together, putting one more nail into the NFC coffin.

PayPal's application allows those with an account to reimburse each other for a split bill, collect money for a leaving present or donate money to charity on a whim. But it's the incorporation of Bump Technologies' client that permits the transfer of funds to a complete stranger by tapping phones together.

The technology is used to identify two partners in the transaction - the exact time, the rough location, the force of the bump as measured by the accelerometer in the handsets. These, combined with various other clues, are used to identity the two parties involved, who can then request or hand over cash after entering a PIN.

Any confusion requires a repeated clarifying bump, and with both parties authorising the payment manually the security risks are minimal.

As such we're not going to see Bump replacing the mass-transit applications for proximity payments - just take a moment to imagine all that splintered plastic as commuters slap their iPhones against the tube gates - but it could enable small and informal transactions. The likes of market stalls and creches don't always take credit cards, so there's an opening here.

It's also an area where proximity payment systems, such as those espoused by the NFC Forum, have hoped to find a home on the basis that two people equipped with NFC phones would be able to do much the same thing. NFC World reckons that PayPal has enough presence to eat away at that potential, especially if the capability spreads beyond the iPhone. ®

Combat fraud and increase customer satisfaction

More from The Register

next story
Virgin Media so, so SORRY for turning spam fire-hose on its punters
Hundreds of emails flood inboxes thanks to gaffe
A black box for your SUITCASE: Now your lost luggage can phone home – quite literally
Breakfast in London, lunch in NYC, and your clothes in Peru
AT&T dangles gigabit broadband plans over 100 US cities
So soon after a mulled Google Fiber expansion, fancy that
AT&T threatens to pull out of FCC wireless auctions over purchase limits
Company wants ability to buy more spectrum space in auction
Google looks to LTE and Wi-Fi to help it lube YouTube tubes
Bandwidth hogger needs tube embiggenment if it's to succeed
Turnbull gave NBN Co NO RULES to plan blackspot upgrades
NBN Co faces huge future Telstra bills and reduces fibre footprint
NBN Co plans fibre-to-the-basement blitz to beat cherry-pickers
Heading off at the pass operation given same priority as blackspot fixing
NBN Co in 'broadband kit we tested worked' STUNNER
Announcement of VDSL trial is not proof of concept for fibre-to-the-node
prev story

Whitepapers

Securing web applications made simple and scalable
In this whitepaper learn how automated security testing can provide a simple and scalable way to protect your web applications.
Combat fraud and increase customer satisfaction
Based on their experience using HP ArcSight Enterprise Security Manager for IT security operations, Finansbank moved to HP ArcSight ESM for fraud management.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
SANS - Survey on application security programs
In this whitepaper learn about the state of application security programs and practices of 488 surveyed respondents, and discover how mature and effective these programs are.
3 Big data security analytics techniques
Applying these Big Data security analytics techniques can help you make your business safer by detecting attacks early, before significant damage is done.