The app is designed to be used with the German GeldKarte which appears to use an old NFC technology. It isn't a credit card, you have to load cash onto it before you can spend it, and doesn't use the same security as modern contactless bank cards.
Also it appears this isn't the first app to do this:
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The app is designed to be used with the German GeldKarte which appears to use an old NFC technology. It isn't a credit card, you have to load cash onto it before you can spend it, and doesn't use the same security as modern contactless bank cards.
Also it appears this isn't the first app to do this:
http://www.nfc.cc/2011/12/11/nfc-geldkarte-broken-by-design/