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March 10, 2011 11:21 am GMT
As we heard this morning, VeriFone CEO Doug Bergeron wrote an open letter to consumers and the industry, warning users of a "gaping security hole" in mobile payments startup (and competitor) Square's hardware. Bergeron actually went so far as to ask Square to recall all of its card readers and even contacted all of the major credit card companies, including Visa, MasterCard, American Express, Discover and JP Morgan Chase to alert them about the potential issue. Tonight, Square's CEO Jack Dorsey has responded to VeriFone's claims with a letter of his own (we've embedded the note below).Dorsey says that VeriFone's accusation is not an accurate or fair claim, as any encrypted card reader, phone camera, pen and paper can be used to copy or catch numbers from a credit card. He adds that Square is "designed to be used without worry" for consumers.
Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/QpISJY5SxNo/
Square's Jack Dorsey: VeriFone's Security Hole Allegation "Is Not A Fair Or Accurate Claim"
As we heard this morning, VeriFone CEO Doug Bergeron wrote an open letter to consumers and the industry, warning users of a "gaping security hole" in mobile payments startup (and competitor) Square's hardware. Bergeron actually went so far as to ask Square to recall all of its card readers and even contacted all of the major credit card companies, including Visa, MasterCard, American Express, Discover and JP Morgan Chase to alert them about the potential issue. Tonight, Square's CEO Jack Dorsey has responded to VeriFone's claims with a letter of his own (we've embedded the note below).Dorsey says that VeriFone's accusation is not an accurate or fair claim, as any encrypted card reader, phone camera, pen and paper can be used to copy or catch numbers from a credit card. He adds that Square is "designed to be used without worry" for consumers.Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/QpISJY5SxNo/
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