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Report: Hackers hit mobile payment service CurrentC


New York –- CurrentC, a mobile payment service still in pilot mode from a group of retailers known as the Merchant Consumer Exchange (MCX), has reportedly been hit by hackers. According to CNN, MCX has sent a warning to participants in the CurrentC pilot that criminals obtained access to the email addresses of all consumers who have signed up for the service.

The hack has occurred in the past 36 hours. While only email addresses are believed to have been stolen at this time, CurrentC requires users to provide personal data including driver's license number, Social Security number, and date of birth.

According to the CurrentC website, the CurrentC app allows users to redeem exclusive offers, programs and coupons automatically, earn instant loyalty rewards and points, and pay with checking accounts, store gift cards and select store debit and credit cards. Security includes a four-digit passcode, a secure unique paycode attached to every purchase, and storage of information on an encrypted cloud rather than on the phone.

CurrentC is seen as a competitor to ApplePay. A number of retailers who do not accept ApplePay, including Wal-Mart, Best Buy, CVS and Rite Aid, are part of MCX, and CVS and Rite Aid have reportedly disabled near field communication (NFC) payment systems in their stores to block Apple Pay.
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