At the Black Hat security conference today, Aperture Labs revealed just how easy it is to hack Square’s audio jack plug-in magnetic stripe reader.
You heard from VeriFone back in March that the omission of security in Square’s reader was a serious threat to consumers’ data, and ultimately, trust in the payments industry.
This is only the beginning of a potential goldmine for hackers and criminals to skim cards and capitalize on stolen card data. It’s important to keep consumer security top of mind – putting non-secure mobile payment readers in the market jeopardizes the trust we, and other industry players, have worked so hard to build.
Dave Faoro is Vice President, Chief Security Officer at VeriFone.