This is hardly new... Contactless smart cards have been around for ages - I've been using one since late 2002. More specifically, contactless credit and debit cards prominently feature a logo, usually on the reverse. On top of that your bank (if it issues such cards) has almost certainly notified you about this functionality. That's not to say that the design of the system is good - it isn't exactly because of this kind of attack vector. If you are concerned about this, there are countermeasures that you can employ that will prevent this.
I will say that getting to watch random people who have no idea what's going on or how this "hack" works and who wouldn't understand how it works if you spent hours explaining it to them is priceless. They get all wide-eyed as if Merlin himself did magic in front of their eyes.
They may walk away from that slightly more security-aware, but the sad reality is that with only the most basic social engineering skills, you can get most people to tell you things like social security numbers, which are more useful in the grand scheme of things, with very little effort.
Except for the house payment's and boat, we're debt free. No car payment, no CC payments, no personal loans, no other outside debts. It's a nice feeling to sleep well.
That's certainly a good feeling; I don't like to carry debt and try to avoid doing so whenever possible. But I will point out that this attitude doesn't necessarily result in the smartest use of money. With credit as ridiculously cheap as it is these days, and with credit cards offering bonuses and rewards (not as many as before a stupid federal law was passed) it often makes good financial sense to use a credit card for every day purchases, especially if you are smart about it and pay it off fully every month.
