Mobile payment platform CurrentC already hacked

The controversy over fledgling mobile payment platform CurrentC is growing. The Merchant Customer Exchange's (MCX) pilot program has already been hacked.

The MCX is a rival mobile payment platform competing with Apply Pay and Google Wallet. Apple Pay's release this week served to bring attention to CurrentC, which is now being tested at select Minneapolis-area retailers.

The program is not in wide release and MCX released the following statement:

"Within the last 36 hours, we learned that unauthorized third parties obtained the e-mail addresses of some of our CurrentC pilot program participants and individuals who had expressed interest in the app. Many of these email addresses are dummy accounts used for testing purposes only. The CurrentC app itself was not affected.

"We have notified our merchant partners about this incident and directly communicated with each of the individuals whose email addresses were involved. We take the security of our users' information extremely seriously. MCX is continuing to investigate this situation and will provide updates as necessary."

MCX requires shoppers to register with a social security number and link their CurrentC accounts to existing bank accounts rather than a credit card. One of the benefits of CurrentC to retailers includes this ability to bypass credit card issuers and avoid paying swipe fees.

The effort is being served up as a battle of titans, between Apple and MCX-backer Walmart. There have also been concerns over security, concerns likely to be heightened in light of this security breach.

For more:
-See this CurrentC statement

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