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Custom ROMs have had just about enough of being Android's second-class citizens
(www.androidauthority.com)
This is a most excellent place for technology news and articles.
I'd still carry my debit card if I used phone, just in case I lose one while out and about. I think I'd be more likely to notice my phone is missing but more likely to lose the phone in the first place.
I've never tried it in part because I don't trust my phone with it's proprietary software, and I suspect there may be no open source apps to pay with.