Thats been around for years now. The pay pass thing was exploited a few years ago so they changed it, the data in them is encrypted now, its read by the reader at the POS terminal now and the info is transmitted to the processor, all encrypted, so only the processor and the card issuer can get the info from the card.
I don't think its as big of a deal now, but still interesting none the less.
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1984 Honda ATC200ES "Big Red"
1982 ATC200E "Hondie"
1988 TRX300FW "Project Quad" Still in progress....