OneBit's Swipe-to-Pay NFC Bitcoin Payment System Enters Testing Phase

OneBit uses near-field communication technology to enable MasterCard network payment functions on mobile applications. Users of OneBit technology can use Bitcoin to complete payments anywhere the MasterCard swipe system is valid.

For many people, apps like this will change the way people think about Bitcoin. It will no longer be about whether a store accepts Bitcoin, because the app will complete the payment in the local currency.

The new alpha version of the app is currently being tested in locations where Hoenisch and his company think it can be most useful.

The company's website features an introductory video that shows a user using the OneBit app to pay for a sandwich at a subway station. This seems to work without any problems, as many subway stations are already equipped with NFC payment services.

Meanwhile, in the past, everyone has complained about the security of NFC cards and terminals. The hackers who once made a sensation by using a tablet and some professional software to remotely read the detailed information of an NFC card may still be active.

Simply obtaining the OneBit card details is not enough to steal Bitcoins. Invariably, the thefts are caused by users storing Bitcoins in their OneBit wallets that they do not need to have. No matter how much we trust them, we should not leave large amounts of virtual currency in someone else's pocket.

The company will release more public versions of the software in the coming months.