The way they built SmartPay is way more secure than most POS systems out there which have $1Billion or more fraud all the time.

For that, a device must be rooted, which SmartPay detects and blocks usage. You can't run SmartPay on a rooted device. As for screen recorders, they can't record payment QR or screens. Even if they did there is no PIN animation feedback.

The reason to have a SmartCard in the first place is so that you don't need to have a phone with you, or any specific application and still be able to pay. They will add in the future payment QRs, similar method to what's been around that you can pay with any device wallet.