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Techcrunch.com are reporting that MCX (Merchant Customer Exchange), the coalition of retailers including Walmart, Best Buy, Gap and others, who are backing a mobile payments solution CurrentC has been hacked. The data breach involves the theft of email addresses.
CurrentC are working hard to bring their own mobile payment solution to the market and recently made a number of retail chains turn off their contactless (NFC) card readers to prevent people paying with the competing Google Wallet and Apple Pay.
Are proprietary solutions becoming the new norm? Previously, all TVs could display all channels being broadcast and either cash or standard, mainstream credit cards were universally accepted but the new direction seems to be a plethora of incompatible technologies for the benefit of the vendor instead of the customer.
(Score: 3, Interesting) by frojack on Thursday October 30 2014, @03:11AM
The scary part is that a few years from now we might all have currentC.
Doubt it. People don't like paying credit card fees but they don't like turning their banking info over to some company that can't even manage their own business. Paying with a phone isn't THAT important to most shoppers.
The credit card clearing companies aren't going to take this without a fight. Both Google and Apple worked WITH the credit card companies, CurrentC is trying to go around them.
You have to wonder to whom we owe our thanks for this hacking.
No, you are mistaken. I've always had this sig.