Our history with PINs is checkered as so often we choose something really easy to remember, like four 1s in a row. That software interface is a potential target for hackers attempting to access the payment information.
Still, compared to the current methods, this is an improvement. You don’t have to enter a PIN to use a contactless or magstripe credit card at the drugstore. The card number itself is stored in the secure element on the handset, safely encrypted.
So, one cure might be to assign PIN numbers, a step many financial institutions have taken.
For smartphone owners, you’ll definitely want to keep one number handy. The one that locks, or bricks, your phone if it’s lost or stolen.