Want to keep the TNW Conference vibe going?? Tickets for TNW2022 are available now >>

The heart of tech

This article was published on October 29, 2014

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

CurrentC, the much-hated Apple Pay rival, has been hacked
Josh Ong
Story by

Josh Ong

Josh Ong is the US Editor at The Next Web. He previously worked as TNW's China Editor and LA Reporter. Follow him on Twitter or email him a Josh Ong is the US Editor at The Next Web. He previously worked as TNW's China Editor and LA Reporter. Follow him on Twitter or email him at [email protected].

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.

Screen Shot 2014-10-29 at 12.21.56 PM

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]