Really like efforts to make payments and secure transactions easier however not sure how this will compete with the big boys (banks etc).

For example Visa offer contact less payments for merchants via pay wave.

Barclays have payments from your smart phone via ping it.

Then there is nfc technology.

Just trying to test the longevity of this product. Does it alleviate the pain of using a card and remembering a pin.

Edit: also worth mentioning Paypal, Barclays Paytag.