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MSE News: Android users now able to buy everyday items with a tap of their phone
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You don't even need to double click the home button - just hold the sleeping phone next to the contactless terminal and it will wake and prompt for your fingerprint.
Oddly Android insist you have a pin or swipe lock code before you can use Android Pay so I assumed you need to unlock your phone but just waking it up is sufficient. How long before the first Android Pay user appears in the national press complaining that their phone was used in several shops etc to pay for goods after they lost their phone?