Two researchers attending the Black Hat security conference yesterday in Las Vegas have demonstrated a simple hacking technique that could allow unscrupulous individuals to purchase items using the mobile payment system Square and stolen credit card data. With this technique, would-be hackers could use stolen credit card data to withdraw funds without the need to be in possession of the physical credit card.
Google will roll out a state-of-the-art smartphone payment system in New York and San Francisco, before the end of the summer, according to a report by Bloomberg. The system will use Near Field Communication (NFC) technology to allow consumers to make purchases at cash machines by waving their smartphones in front receivers attached to cash registers.
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Jack Dorsey’s Square
Despite eager anticipation from Irish users Jack Dorsey’s smartphone credit card scanner, Square, has no plans to launch in Ireland…just yet