The software, which interacts with physical ID card readers via an application or by swiping it near a reader, could eventually replace the plastic badges that millions of people worldwide use to securely enter their offices and other facilities.

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They also could manage credit-card accounts and track spending through an application on their smartphone, the people said.

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On Thursday, it plans to introduce an application that allows small businesses to accept credit and debit card payments on smartphones.

FORBES: Wireless

You will need a drivers license, social security card, passport and birth certificate handy in order to fill out an application.

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So if you have an application with sensitive customer data such as names, addresses, social security numbers and credit card numbers, thoughtless cloning can result in major exposure.

FORBES: JargonSpy

According to Reforma's investigation, an identity card number that Ricardo Miguel Cavallo submitted to the Mexican authorities in a residency application is the same one sighted by the Spanish judge, Baltasar Garzon, who wants to try Miguel Angel Cavallo on charges of torture and murder.

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It allows mass market development of an open, trusted application environment and is complementary to the existing secure elements offered on the basis of smart card technology.

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