That, says Allen, a vice-president at Citicorp in New York, will be enough for the card to process data on its own.

CNN: ASIANOW - Asiaweek

Many other users report corrupted data on their SD card, forcing them to reformat it, and losing their data in the process.

FORBES: Is Your Android Smartphone's SD Card Causing It to Crash or Lose Data?

In the process of gathering somewhat innocent behavior data, mobile wallet projects will also gather card numbers, personal identities, spending data and other sensitive information.

FORBES: Paying With Your Data: The Real Promise Of Mobile Wallets

Companies like CyberSource, First Data and PayPal (now owned by eBay) are happy to process credit card transactions for a fee.

FORBES: Magazine Article