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Square enables smartphone users to process credit card transactions remotely
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Mobile payment system Square can be hacked, claims researchers

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.