From the main MCX FAQ:
On the data security side, the technology choices we’ve made take consumers’ security into account at every aspect of their core functionality.
And from this MCX blog post:
Within the last 36 hours, we learned that unauthorized third parties obtained the e-mail addresses of some of our CurrentC pilot program participants and individuals who had expressed interest in the app. Many of these email addresses are dummy accounts used for testing purposes only. The CurrentC app itself was not affected.
We have notified our merchant partners about this incident and directly communicated with each of the individuals whose email addresses were involved. We take the security of our users’ information extremely seriously. MCX is continuing to investigate this situation and will provide updates as necessary.
You can’t make this stuff up. (via MacRumors)
MCX describes itself as the only “merchant-owned mobile commerce network”. Indeed, it was started by Walmart and other merchants who collaborated to create MCX. While the merchants participating in MCX appear to be co-owners, they are also competitors who are contractually bound to exclusively use MCX over other mobile payment solutions (unless they wish to incur fines).
If all this sounds a little fishy (i.e.: competitors colluding to ensure the exclusive use of one supplier of electronic mobile transactions over another), then I am not surprised. Typically, merchants are not allowed to act like a union to weaken the position of a supplier, demand more favorable terms, or put that supplier out of business.
If you would like the DOJ to examine the co-ownership of MCX and the legality of these exclusivity contracts between member-owned MCX and its participating (colluding) merchants, then you should sign this petition over at WhiteHouse.gov:
https://petitions.whitehouse.gov/petition/order-doj-investigation-merchant-commerce-exchange-facilitating-anti-competitive-collusion-among/Ms9VCP9y
Here is the short-form of the link for sharing: http://wh.gov/icBmj
And CurrentC hasn’t even launched…
You know, I think MCX is dead in the water already. They’ve got enough scrutiny in the tech, finance, and merchant press to already be a non-starter. It already feels like they’re in the rear view mirror.
Sounds a bit like another successful mobile payments collaboration called Isis, oh wait…
Cue the conspiracy theories, that Apple hired hackers to make CurrentC look bad.
Do you really think all those companies with all those corporate counsels vetting the agreement wouldn’t have found a problem if one existed? It’s not like Visa, MasterCard, and American Express have a Constitutional right to swipe fees, and while not a great deal CurrentC doesn’t harm customers in any demonstrable way. As long as all those companies still take cash they don’t have much to worry about. FFS it’s taken the FTC 5 years to go after AT&T for applying a completely different definition to the word “unlimited” than the rest of us!
Wal-Mart’s deep pockets can buy a lot of inertia!
Emails hacked today.
Checking account numbers hacked tomorrow?
I’m guessing “unauthorized third parties” might include this? http://www.imore.com/depth-look-currentc-and-personal-data-they-want-collect (via Daring Fireball)
No question, it’s a been a bad week for the entire PR/Marketing departments of CVS, Rite Aid, and MCX.
Yeah, they may be getting pretty loose with the phrase “unauthorized third parties.” It sounds a lot more ominous than “exploring tech blogger” and “Stanford computer science researcher” (http://techcrunch.com/2014/10/25/currentc/ and http://stanford.edu/~ataude/).
I wonder why MCX would want it to sound MORE ominous?
I think enough people were outraged that some hackers took it upon themselves to prove for free that MCX was not to be trusted with sensitive data.
I wondered the same thing. I don’t know where they found their PR/MarCom people, but they really should have looked longer!
Better yet, get Amazon to complain about them. We all know that definitely works.
That’s one.
After China stopped QR Code payments because the system has hacked multiple times, we have MCX trying to use the insecure system! Plus now with their plan for users Social Security Numbers who in right mind would sign up for this.?
It’s only emails but still a horribly timed breach and most likely directly related to the Apple Pay news. That’s a pretty far reaching claim but when Apple is wronged, folks come out in droves to support them.
Either way…I stand by my statements on the other post: CurrentC will never get my information. They’d have to prove themselves in a major way first.
I wouldn’t be surprised if the theories pop up… but it makes a lot more sense that hackers saw a weakness and exploited it on their own. It wouldn’t come as a surprise if the hackers were on a mission to help kill off MCX because they were upset about merchants blocking NFC payments though.
hahaha indeed – deep pockets. What happened to all the low margin talk then?
As of this morning, the CurrentC app has 3,200 one-star reviews in the itunes app store. That’s gotta be some kinda record.
From what I heard it is Android and iOS users doing this. 🙂