Apple Pay competitor CurrentC hacked, alerts pilot program participants of security breach

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  • Reply 221 of 232
    fallenjtfallenjt Posts: 4,040member

    Since people love this topic so much, why AI not just post another topic about the MXC conference call to dump the crap on Retailers?

    http://www.macrumors.com/2014/10/29/mcx-challenging-status-quo/

  • Reply 222 of 232

    Others might have already said it, but just in case...

     

    BWAHAHAHAHAHAhahahahahahahahahahahahahaaaaaa! 

     

    I think it was foreshadowing that their 'security' page was a dead link.<img class=" src="http://forums-files.appleinsider.com/images/smilies//lol.gif" />

  • Reply 223 of 232
    tbell wrote: »
    To be fair however the NFC systems are in place because of Google.

    Actually it's been in place for a lot longer, way before Google. I want to say like 10 yrs. it was originally set up for cc's to use. Instead of having them swiped the traditional way it was to just tap the nfc scanner to process the payment. I think they called it "blink." Google wallet, & now apple pay have just tapped into that same technology to reach the masses.
  • Reply 224 of 232
    stompystompy Posts: 369member
    Quote:
    Originally Posted by elehcdn View Post

     

    While CVS and RiteAid appear to be doing their best to run away from the issue.

     

    Just goes to show you what happens when you get into business with Walmart...




    Unfortunately, it won't be the last time execs are blinded by the Walmart brand. (Or maybe Walmart spikes the water when they meet with other execs!)

  • Reply 225 of 232
    elehcdnelehcdn Posts: 385member
    Quote:

    Originally Posted by stompy View Post

     



    Unfortunately, it won't be the last time execs are blinded by the Walmart brand. (Or maybe Walmart spikes the water when they meet with other execs!)


    Well, if you read the macrumors link the MCX CEO is now throwing his investors under the bus ...

  • Reply 226 of 232
    MarvinMarvin Posts: 14,612moderator
    fallenjt wrote: »
    ceek74 wrote: »
     
    Three words...Perfect Timing!
    That's only 2 words. Where is the third?

    The third word was stored in the cloud but it got stolen.

    Apple's system purposely doesn't store information so they will never be the security weak point. Banks are still a target and have been compromised:

    http://lifehacker.com/chase-bank-hacked-info-stolen-for-83-million-accounts-1642063956

    but these haven't resulted in account or card info leaking out. Once a 3rd party takes on the role of storing card info and shopping profiles, they are taking on a huge responsibility and failing to measure up to that with adequate security will quickly turn off retailers and customers. Fortunately it was just email accounts this time for CurrentC but if they leak out card info or more customer details, it's over for them. Sadly, people who use both secure systems like ?Pay and weaker systems will be as vulnerable as the weakest one so I hope most retailers make the sensible choice to at least offer the most secure option.
  • Reply 227 of 232
    stompystompy Posts: 369member
    Quote:



    Originally Posted by elehcdn View Post

     

    Well, if you read the macrumors link the MCX CEO is now throwing his investors under the bus ...


     

    Nice!

     

    Also, because "Challenging the status quo" !

  • Reply 228 of 232
    Imagine if CurrentC was pitched on SharkTank right now:

    "Yes, we access customers' bank accounts, yes we assess our members large fines if they use competitors, & yes we've been recently hacked, but trust me, it's a really good idea that will make everyone s lot of money in the long run!"
  • Reply 229 of 232
    plovellplovell Posts: 818member
    Quote:

    Originally Posted by Marvin View Post



    Once a 3rd party takes on the role of storing card info and shopping profiles, they are taking on a huge responsibility and failing to measure up to that with adequate security will quickly turn off retailers and customers. 

    A huge responsibility but unfortunately not that much liability. If they're breached then they just tell you that it's your problem to solve. Sorry for the identity theft.

     

    Ninety-nine-percent security sounds great until you realize that for every million customers, ten thousand are compromised. That's a "seriously bad" number.

  • Reply 230 of 232
    Another point, when you allow 3rd party vendors access to your data systems, including payment systems, it is a disaster in the making.

    http://www.knoxnews.com/knoxville/food-and-dining/8-colorado-stores-among-216-nationwide-affected-by-jimmy-johns-data-breach

    CurrentC just amplifies the risk. It is one stop shopping for the would be thief and has potentially thousands of entry points (one for each participant and many times more for those where any 3rd party has access to customer systems). And, apparently, it is as easy as misusing or stealing a password—hacking not required.
  • Reply 231 of 232
    Security is the #1 issue today, hackers are lurking around in each corner. :(
  • Reply 232 of 232

    I don't think providing all our details to these services are safe now. I don't want to be part of such scam.

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