You have the same level of protection when paying with your cell phone as you do with the cards in your wallet.  If there are debit cards stored in your phone, they remain PIN-protected, like your ATM card.  If there are credit cards stored in your phone, you will have to sign for large amounts as you would with a credit card.  Mobile payment works the same way with one important plus -- you also have the option to lock your phone, so no one can access your credit or debit card or your phone service without entering your phone’s PIN code!