Correct me if I'm wrong, but the "secure element" is ARM's TrustZone [1], that is found on every ARM Cortex-based device out there, right? Or is there anything special they are adding to some of the latest ARM SoC's in phones? If it's TrustZone, then Verizon has been lying about this from the very beginning.
[1] http://www.arm.com/products/processors/technologies/trustzon...
Application Examples for TrustZone:
• Secured PIN entry for enhanced user authentication in mobile payments & banking
• Anti-malware that is protected from software attack
• Digital Right Management
• Software license management
• Loyalty-based applications
• Access control of cloud-based documents
• e-Ticketing Mobile TV