Latest in Dorsey

Image credit:

Square's Jack Dorsey calls VeriFone's vulnerability claims 'not fair or accurate'

Jacob Schulman
03.10.11
Share
Tweet
Share
Save

Sponsored Links

We had a feeling that Square wouldn't let VeriFone call it out without issuing some sort of statement, and CEO Jack Dorsey has responded to the claims of a gaping security hole in the form of an open letter on the company's website. Dorsey calls its competitor's accusations "not fair or accurate" and says that many of the necessary security measures are already built-in to your credit card itself. He also points out that this sort of credit card number thievery is possible every time you hand your plastic over to a waiter or salesperson, and that its partner bank, JPMorgan Chase, stands behinds all aspects of the service. To us, it seems like Verifone is more than a little scared at the prospect of Square undercutting its fees and potentially upending the POS business -- but we're just theorizing. One thing is for sure though, we'll be hearing a lot more about this as the mobile payment war heats up in the future.

All products recommended by Engadget are selected by our editorial team, independent of our parent company. Some of our stories include affiliate links. If you buy something through one of these links, we may earn an affiliate commission.
Share
Tweet
Share
Save

Popular on Engadget

Engadget's Guide to Privacy

Engadget's Guide to Privacy

View
T-Mobile’s Sprint merger is opposed by 18 state attorneys general

T-Mobile’s Sprint merger is opposed by 18 state attorneys general

View
Microsoft plans to bring broadband to 9 million more Americans

Microsoft plans to bring broadband to 9 million more Americans

View
California governor signs labor law meant to fix the gig economy

California governor signs labor law meant to fix the gig economy

View
India effectively bans e-cigarettes

India effectively bans e-cigarettes

View

From around the web

Page 1Page 1ear iconeye iconFill 23text filevr