X9 to upgrade wireless financial services standards for NFC, contactless and mobile payments technologies

The Accredited Standards Committee X9 is to upgrade the ANSI X9.112 Wireless Management and Security standard to address new and future vulnerabilities and risks to technologies – including NFC, RFID, WiFi and Bluetooth – that are used in devices supporting contactless and mobile payments such as payment cards, smartphones, point-of-sale (POS) terminals and ATMs... More

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Quantum cheques could be a forgery-free way to move money

Quantum cheques could be a forgery-free way to move money — New Scientist — “Say Alice wants to pay Bob using a quantum cheque. She would have to go to the bank, verify her identity and then the bank would issue her with two qubits taken from its central quantum computer. These qubits are inextricably linked to the remaining qubits within the bank’s central computer – a quality known as quantum entanglement. Measuring the state of any one qubit in an entangled system will reveal the state of all qubits within that system. The bank can use this entanglement to verify that its coffers were the origin of a quantum cheque.”