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March 9, 2011 09:34 pm GMT
Mobile payments are heating up and companies are taking ruthless steps to knock down competitors. Today, VeriFone is claiming that Square's mobile payments processor contains a serious security threat to credit cardholders and businesses. In an "open letter," VeriFone CEO Doug Bergeron warns consumers and the industry of a serious security threat with Square's card reader and calls on Square to recall its devices (we've pasted the letter below). Bergeron claims that anyone can "skim" or steal personal information off of a credit card's magnetic strip using the Square card reader with a hacked app and to illustrate the vulnerability, VeriFone wrote a test app that can "skim" to prove their assertions. 
Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/zommE-OhUkw/
VeriFone Takes The Gloves Off, Accuses Square Of Serious Security Hole
Mobile payments are heating up and companies are taking ruthless steps to knock down competitors. Today, VeriFone is claiming that Square's mobile payments processor contains a serious security threat to credit cardholders and businesses. In an "open letter," VeriFone CEO Doug Bergeron warns consumers and the industry of a serious security threat with Square's card reader and calls on Square to recall its devices (we've pasted the letter below). Bergeron claims that anyone can "skim" or steal personal information off of a credit card's magnetic strip using the Square card reader with a hacked app and to illustrate the vulnerability, VeriFone wrote a test app that can "skim" to prove their assertions. Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/zommE-OhUkw/
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