Even if we forgive the previous transgressions of many of the biggest MCX members, and we accept that the CurrentC hack revealed only email addresses rather than actual financial data, it still doesn't bode well. There are larger issues involved with CurrentC when it comes to privacy, and fraud protection for customers.
"CurrentC's approach raises questions as to liability if there is a compromise of the system," suggested Ken Westin, security analyst with Tripwire. "The Apple Pay model has been a bit more focused on privacy and security with their technology to help gain traction and trust in the market place. The CurrentC system is tied to loyalty programs with the retailer and that raises a whole host of privacy and security concerns."
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