VeriFone Attacks Mobile Credit-Card Processing Company Square
VeriFone, one of the oldest and largest providers of credit card processing systems, has just entered into a very public and very direct confrontation with Square, the new kid in town. In his open letter, VeriFone CEO Doug Bergeron has termed Square's credit card processing device "a skimming machine" that can be hacked by any reasonable programmer within one hour.
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VeriFone, one of the oldest and largest providers of credit card processing systems, has just entered into a very public and very direct confrontation with Square, the new kid in town. In his open letter, VeriFone CEO Doug Bergeron has termed Square’s credit card processing device “a skimming machine” that can be hacked by any reasonable programmer within one hour.
Bergeron claims that the fault lies in Square’s hardware that is poorly designed and lacks the ability to encrypt credit card data.
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