PhotoIt's far too early to predict who if anyone will be the eventual winner of the mobile-payment wars, especially since Apple Pay and its upcoming rival CurrentC both faced major setbacks this week.

Less than seven days after it was first made available, Apple Pay encountered its first roadblock when the pharmacy chains CVS and Rite-Aid stopped accepting it. Although neither chain officially explained why, most observers agree it's because they decided instead to work with a retailer-owned group called the Merchant Customer Exchange (MCX) to develop a competing mobile-payments app called CurrentC, scheduled to be widely released next year.

Mobile payment systems are being touted as far more secure than traditional credit and debit cards, which did not stop CurrentC from getting hacked this week (though full release won't be until next year, the app is currently being tested in a limited pilot program).

On Wednesday, participants in CurrentC's pilot program received a warning from the MCX: at some point in the previous 36 hours, hackers had managed to grab the email addresses of all participants.

Granted: by hacking-damage standards, hackers gaining access to a mere list of email addresses (without even getting the passwords to control them) is very mild indeed, and there's no evidence to suggest the hackers managed to get any other information MCX keeps on its users, such as their name, home address, phone number and actual physical location (or at least their phone's physical location). At least not this time.


Share your Comments