Detailed text transcripts for TV channel - CNN - 20110528:12:27:00
Without knowing a password. there's another level of security on top of the wallet which says to access the wallet, to make a payment, you have to enter another pass code. >> so there are a couple layers there. number one, with the technology itself. to really break this down without being too technical, joe, there is a special chip that's embedded in the phone, the chip is called an nfc cheap, near field communication, is the technology. that chip is encrypted you have to use pin codes and then you can do other things like you would if you lost your credit card or wallet, you would simply cal...