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by astrange 808 days ago
> My take though is that even if apple opens up the NFC chip, they aren't opening up the Secure Enclave. So even if a bank app can take over the NFC chip, they still will have secrets in memory at some point without a new P-256 based payment protocol.

The NFC chip is itself a secure enclave. (It's called a "secure element" but same thing.)

It does its own key storage, which is why it can work when the phone is turned off.