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August 5, 2011 / David Bleeker

Mobile Payment System Square Vulnerable to Card Fraud

White Hats have exposed a major security vulnerability in the US based mobile payment service, Square.

Zac Franken and Adam Laurie, two security experts of the firm Aperture Labs revealed to the world how they used a homemade software program and an iPad wire to deceive Square- Mountain View’s payment service with supposedly “tight” security features.

According to Laurie, he could type in credit card numbers in his PC, which instantly got converted into sound data and subsequently send to Square, wherein the transaction was registered just the way a real card would have when swiped in a dongle. [read more]

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