CurrentC, the much-hated Apple Pay rival, has been hacked

If you want to build a reliable mobile wallet service, you should probably avoid being hacked before you launch. CurrentC, a retailer-backed payment system billed as one of the chief competitors to Apple Pay, has notified customers that hackers may have acquired their email addresses, as first reported by Business Insider.

Parent company MCX asserted that only emails were obtained during the breach, but it did warn customers to avoid opening any suspicious emails or attachments. Even so, the hacking does raise questions about the security of CurrentC’s system, which stores financial data in the cloud and uses QR codes and passcode to approve payments.

Despite not having launched yet, CurrentC made waves this week after several top retailers blocked Apple Pay and NFC payments in preparation for their own solution next year. Yesterday, Apple CEO Tim Cook called the move a “skirmish” and asserted that the customers will decide which payment services and retailers to support.

➤ Wal-Mart’s Answer To Apple Pay Has Already Been Hacked [Business Insider]