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(via Mashable)

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Just because the Square Reader is new doesn’t mean it isn’t susceptible to the same scams as old school ATMs and credit card readers.

Three recent Boston University graduates are preparing to publicly present research that demonstrates how to hack Square’s mobile payments hardware. The research is set to be shown off at the The Black Hat Security conference in Las Vegas this week.

The team said it discovered a way to steal credit card information using a modified Square magnetic stripe reader.

By tampering with the magstripe reader, the team was able to turn Square’s hardware into a credit card skimmer, a device that can be used to steal credit card informationThe modified reader doesn’t work with the proprietary Square app, but it could be used to steal credit card information using a custom-recording app, according to the team behind the hardware hack Read more…

More about Gadgets, Hacking, Square, Hardware, and Hackers

Complete story at source: Mashable
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(via TechCrunch)

Shot of room where TechCrunch Disrupt Hackathon was held in NYC in May, 2015. That meant if you wanted to add a service like taking a credit card, you needed to code it all manually. Today with a few lines of code, you can tap into some remarkable resources whether it’s a payment network like MasterCard, a mapping service like ESRI or the machine learning engine that powers IBM’s Watson. When you look at the hacks that came out of the past… Read More

Complete story at source: TechCrunch
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(via Payments News – from Glenbrook Partners)

Alliance Data Systems has announced that its Retail Services business, which manages more than 120 branded credit programs, has come to multiple agreements with PayPal. Under a multi-year agreement with PayPal, Alliance Data will become an issuer for Bill Me Later® credit products and will maintain a partial interest in the receivables generated under the program. Additionally, Alliance Data and PayPal have agreed to collaborate to support PayPal’s offline expansion, which is enabling PayPal to be accepted in more physical merchant locations across the U.S. Consumers who hold a branded private label credit card from Alliance Data’s partners that accept…

Complete story at source: Payments News – from Glenbrook Partners
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(via Gizmodo)

Receiptmate for iOS: Make E-Budgeting Easier With Scannable Receipts

No one save receipts anymore. We buy nearly everything either online or with a credit card, so since we basically have an electronic record of most of our purchases, it’s become too easy to toss any potential paper trail. But some of our payments are still made in cash, and if you really want to track your budget, you need to track it all. Receiptmate makes it easy.

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Complete story at source: Gizmodo
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(via Payments News – from Glenbrook Partners)

Pitney Bowes has published a new white paper titled “Fortifying Brands in a Cardless Society” that is says is intended to “help credit card brands keep their business relevant in a cardless society.” The report is subtitled: “5 key ways card issuers can maintain their edge in a world without plastic.” “This is a seismic shift in the payments industry,” said Berk Charlton, Global Software Portfolio Director, Pitney Bowes. “Brands that establish an early presence with applications that touch a large number of consumers will have a significant competitive advantage in digital commerce over the next decade.” The report notes:…

Complete story at source: Payments News – from Glenbrook Partners
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