Sara Yin reports:
Yesterday, a security researcher discovered that Google Wallet, a groundbreaking app that lets you store and process credit cards with a simple tap of the phone, stores unencrypted pretty much everything except your credit card numbers and CVV numbers. Think credit card limits, transaction times, names, addresses, PIN numbers– all ripe for the taking. A black hat hacker can easily use this volume of information to his advantage, like creating a realistic, personalized online banking site that acutally logs your keystrokes.
Read more on PC Magazine while I pat myself on the back and nod to myself that once again, I was wise not to rush into new things. 